Average Hourly Earnings of Production Employees: Accommodation and Food Services in Hawaii
SMU15000007072000008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.94
Year-over-Year Change
53.17%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the accommodation and food services industry in Hawaii. It provides insights into labor costs and compensation in a critical sector of the state's economy.
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 Hourly Earnings of Production Employees: Accommodation and Food Services in Hawaii series tracks the average hourly wages paid to workers in this industry within the state. It is a key indicator of labor market conditions and is used by policymakers and economists to assess economic performance.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the broader economic landscape in Hawaii, including the strength of consumer demand and inflationary pressures.
Key Facts
- Hawaii's accommodation and food services industry employs over 110,000 workers.
- Wages in this sector have increased by 25% over the past decade.
- The state's minimum wage is currently $12 per hour.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees in the accommodation and food services industry in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor costs and compensation in a key sector of Hawaii's economy, which is important for understanding economic performance and cost pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess the state of the labor market and consumer demand in Hawaii.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical delay of one to two months.
Related Trends
Regional Price Parities: Services: Housing for Hawaii
HIRPPSERVERENT
90% Confidence Interval Lower Bound of Estimate of Percent of People Under Age 5 in Poverty for Hawaii
PPCILB0T4HI15000A156NCEN
Average Weekly Hours of Production Employees: Leisure and Hospitality: Food Services and Drinking Places in Hawaii
SMU15000007072200007
All Employees: Financial Activities: Finance and Insurance in Hawaii
SMS15000005552000001
Real Gross Domestic Product: Rail Transportation (482) in Hawaii
HIRAILTRANRGSP
Average Weekly Hours of Production Employees: Wholesale Trade in Hawaii
SMU15000004100000007
Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Accommodation and Food Services in Hawaii (SMU15000007072000008A), retrieved from FRED.