Average Weekly Earnings of All Employees: Leisure and Hospitality in Louisiana
SMU22000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
448.63
Year-over-Year Change
35.47%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the leisure and hospitality industry in Louisiana. It provides insights into labor market conditions and consumer spending patterns 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
The Average Weekly Earnings of All Employees: Leisure and Hospitality in Louisiana series tracks the average weekly earnings of workers in Louisiana's leisure and hospitality sector, which includes industries such as hotels, restaurants, and entertainment venues. This metric is a key indicator of consumer demand and the overall health of the state's service-oriented economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of Louisiana's service industry and make informed decisions about economic policies.
Key Facts
- Louisiana's leisure and hospitality industry employs over 200,000 workers.
- Average weekly earnings in this sector have increased by 15% over the past 5 years.
- The leisure and hospitality industry accounts for nearly 10% of Louisiana's total employment.
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 Louisiana, providing insights into labor market conditions and consumer spending patterns in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the strength of Louisiana's service-oriented economy and is used by policymakers and analysts to assess consumer demand and make informed decisions about economic policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers 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 Louisiana's leisure and hospitality industry and make informed decisions about economic policies that may impact the service sector.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical delay of 1-2 months. There may be some limitations in capturing the full scope of the leisure and hospitality industry in Louisiana.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Louisiana (SMU22000007000000011A), retrieved from FRED.