Accommodation and Food Services Earnings in Rhode Island
RIEACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,328,552.00
Year-over-Year Change
21.54%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic trend measures average weekly earnings in the accommodation and food services industry in Rhode Island. It provides insights into the economic conditions and labor market in this important sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Accommodation and Food Services Earnings in Rhode Island series tracks the average weekly earnings of employees in the accommodation and food services industry, which includes hotels, restaurants, and other hospitality businesses. This data is a key indicator of economic activity and consumer spending patterns in the state.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the strength of the Rhode Island service sector and make informed decisions.
Key Facts
- Rhode Island's accommodation and food services industry employs over 50,000 workers.
- Average weekly earnings in this sector were $522 as of the latest data.
- Earnings have increased by 15% in the past 5 years in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of employees in the accommodation and food services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic health and labor market conditions of an important service sector in Rhode Island, which is valuable for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of the Rhode Island service sector and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be a 1-2 month delay in the latest figures being available.
Related Trends
Regional Price Parities: Services: Other for Rhode Island
RIRPPSERVEOTH
Arts, Entertainment and Recreation Earnings in Rhode Island
RIEART
Regional Price Parities: Goods for Rhode Island
RIRPPGOOD
Chain-Type Quantity Index for Real GDP: Wholesale Trade (42) in Rhode Island
RIWHOLEQGSP
Civilian Labor Force for Rhode Island
CIVLFRI
Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Rhode Island
RIOTRANEQMANNGSP
Citation
U.S. Federal Reserve, Accommodation and Food Services Earnings in Rhode Island (RIEACC), retrieved from FRED.