Average Weekly Earnings of All Employees: Leisure and Hospitality in Delaware
SMU10000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
492.46
Year-over-Year Change
46.79%
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 Delaware. It provides insight into wage trends and labor market conditions in this important economic 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 in the leisure and hospitality industry is a key indicator of economic activity and worker compensation in this service-oriented sector. It is used by policymakers, analysts, and businesses to assess the state of the labor market and consumer spending.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by economists and policymakers to gauge the health of the broader economy.
Key Facts
- The leisure and hospitality industry accounts for over 10% of employment in Delaware.
- Average weekly earnings in this sector have risen by 20% over the past 5 years.
- Wages in Delaware's leisure and hospitality industry are 15% below the national average.
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 Delaware.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage trends and labor market conditions in an important service-oriented sector of the Delaware economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is closely watched by economists and policymakers to gauge the health of the broader Delaware and U.S. economy.
Q: Are there update delays or limitations?
A: There may be lags of several months in the reporting of this data due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Delaware (SMU10000007000000011A), retrieved from FRED.