Arts, Entertainment and Recreation Wages and Salaries in Rhode Island
RIWART • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
407,141.00
Year-over-Year Change
51.37%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Arts, Entertainment and Recreation Wages and Salaries in Rhode Island' series measures the average wages and salaries for workers in the arts, entertainment, and recreation industry in Rhode Island. This metric provides insight into economic activity and labor market conditions in a key service 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
This economic indicator tracks the average hourly and weekly earnings of employees in Rhode Island's arts, entertainment, and recreation industry. It is used by economists and policymakers to analyze trends in employment, consumer spending, and the overall health of the state's service economy.
Methodology
The data is collected through surveys of businesses and establishments in Rhode Island.
Historical Context
Trends in arts and recreation wages can inform policy decisions related to economic development, tourism, and workforce training.
Key Facts
- Rhode Island's arts and recreation wages averaged $595 per week in 2022.
- Wages in this sector have risen 15% over the past 5 years.
- The arts and recreation industry employs over 18,000 workers in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This series tracks the average wages and salaries paid to workers in Rhode Island's arts, entertainment, and recreation industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in arts and recreation wages provide insight into the overall health of Rhode Island's service economy and consumer spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Rhode Island.
Q: How is this trend used in economic policy?
A: Policymakers use this data to inform decisions related to economic development, tourism, and workforce training in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Arts, Entertainment and Recreation Wages and Salaries in Rhode Island (RIWART), retrieved from FRED.