Average Hourly Earnings of Production Employees: Food Services and Drinking Places in Hawaii
SMU15000007072200008A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.95
Year-over-Year Change
75.19%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average hourly earnings of production employees in the food services and drinking places industry in Hawaii. It provides insights into labor costs and wage trends in the state's hospitality 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 Hourly Earnings of Production Employees: Food Services and Drinking Places in Hawaii metric tracks the average hourly compensation for non-managerial workers in the food and beverage service industry across the state. This data point is used by economists and policymakers to monitor industry-specific labor market conditions and cost pressures.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
This trend is relevant for understanding the economic health of Hawaii's hospitality industry and informing policy decisions related to wages, employment, and cost of living.
Key Facts
- Hawaii's food services and drinking places employ over 100,000 workers.
- Average hourly earnings in this industry have risen by 25% over the past decade.
- Wages in this sector are a key driver of overall consumer price inflation in Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of production employees, such as servers, cooks, and bartenders, in the food services and drinking places industry in Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data is relevant for understanding labor market conditions and cost pressures in Hawaii's crucial hospitality sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: This trend informs policymakers and economists about wage trends in Hawaii's hospitality industry, which is crucial for decisions related to minimum wages, cost of living adjustments, and economic development.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of Production Employees: Food Services and Drinking Places in Hawaii (SMU15000007072200008A), retrieved from FRED.