Average Weekly Earnings of Production Employees: Food Services and Drinking Places in Indiana
SMU18000007072200030A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
358.28
Year-over-Year Change
58.80%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of production employees in the food services and drinking places industry in Indiana. It provides insight into wage levels and trends in this important service 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 Production Employees: Food Services and Drinking Places in Indiana tracks the average weekly pay for non-managerial workers in this industry within the state. It is a key indicator of labor market conditions and consumer demand in the hospitality and dining sectors.
Methodology
The data is collected through the Current Employment Statistics (CES) survey of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists, policymakers, and businesses to assess economic activity and consumer spending patterns.
Key Facts
- Indiana's food services sector employs over 300,000 workers.
- Wages in this industry tend to be lower than the statewide average.
- Earnings have risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average weekly earnings of production employees in the food services and drinking places industry within the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: It provides insight into wage levels and trends in a key service sector, which can inform assessments of consumer demand, labor market conditions, and broader economic activity.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate the health of the hospitality and dining sectors, which are important contributors to overall economic activity and consumer spending.
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.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of Production Employees: Food Services and Drinking Places in Indiana (SMU18000007072200030A), retrieved from FRED.