Average Hourly Earnings of All Employees: Leisure and Hospitality in Arkansas
SMU05000007000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.85
Year-over-Year Change
4.63%
Date Range
1/1/2007 - 7/1/2025
Summary
The 'Average Hourly Earnings of All Employees: Leisure and Hospitality in Arkansas' trend measures the average hourly wages for workers in the leisure and hospitality industry in Arkansas. This metric is a key indicator of economic conditions and labor market dynamics in the state.
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 series tracks the average hourly earnings for all employees in the leisure and hospitality sector in Arkansas. It provides insight into wage levels and trends within a crucial component of the state's economy, which is heavily influenced by tourism, entertainment, and service-based industries.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of Arkansas's labor market and the overall health of the state's economy.
Key Facts
- Arkansas's leisure and hospitality sector employs over 150,000 workers.
- Average hourly earnings in this industry are typically lower than the statewide average.
- Wages in the leisure and hospitality sector are considered a leading indicator of consumer spending trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the leisure and hospitality industry in the state of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage levels and trends within a crucial component of Arkansas's economy, which is heavily influenced by tourism, entertainment, and service-based industries.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of Arkansas's labor market and the overall health of the state's economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with potential lags due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Arkansas (SMU05000007000000003), retrieved from FRED.