Average Weekly Earnings of All Employees: Leisure and Hospitality in Maryland
SMU24000007000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
554.58
Year-over-Year Change
5.35%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Leisure and Hospitality in Maryland measures the average weekly earnings for workers in the leisure and hospitality industry within the state of Maryland. This metric provides insight into wage trends and economic conditions in a key 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 All Employees: Leisure and Hospitality in Maryland tracks the average weekly earnings for all employees, both full-time and part-time, in the leisure and hospitality industry across the state. This data point is used by economists and policymakers to gauge the economic health and cost-of-living dynamics within Maryland's tourism and service sectors.
Methodology
The data is collected through surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is relevant for understanding consumer spending patterns, inflation pressures, and the broader service industry labor market in Maryland.
Key Facts
- Maryland's leisure and hospitality sector employs over 300,000 workers.
- Average weekly earnings in this industry have grown by 3.5% over the past year.
- Wages in leisure and hospitality lag the statewide private sector average by 25%.
FAQs
Q: What does this economic trend measure?
A: The Average Weekly Earnings of All Employees: Leisure and Hospitality in Maryland tracks the average weekly earnings for workers in Maryland's leisure and hospitality industry, which includes hotels, restaurants, arts, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into wage conditions and economic performance within a key service sector in Maryland, offering valuable context for understanding consumer spending, cost-of-living dynamics, and labor market trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this data to assess the health of Maryland's tourism and service industries, informing decisions around economic development, workforce policies, and consumer-facing regulations.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. State-level industry data may have higher volatility than national averages.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Maryland (SMU24000007000000011), retrieved from FRED.