Average Weekly Earnings of All Employees: Leisure and Hospitality in Arizona
SMU04000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
572.08
Year-over-Year Change
57.19%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in Arizona. It provides valuable insights into the economic conditions and labor market dynamics in this key 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 Average Weekly Earnings of All Employees: Leisure and Hospitality in Arizona trend represents the average weekly monetary compensation received by workers in the leisure and hospitality industry within the state of Arizona. This data point is used by economists and policymakers to analyze labor market trends and the overall health of the state's service-based economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Historical Context
This trend is relevant for understanding the economic performance and workforce dynamics in Arizona's leisure and hospitality sector, which is a significant contributor to the state's overall economic activity.
Key Facts
- Arizona's leisure and hospitality sector employs over 300,000 workers.
- Average weekly earnings in this sector have increased by 3% over the past year.
- Leisure and hospitality is the third-largest industry in Arizona by employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic conditions and labor market dynamics within Arizona's leisure and hospitality sector, which is a significant contributor to the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze labor market trends and the overall health of Arizona's service-based economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Arizona (SMU04000007000000011A), retrieved from FRED.