Average Weekly Earnings of All Employees: Leisure and Hospitality in Minnesota
SMU27000007000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
516.81
Year-over-Year Change
9.35%
Date Range
1/1/2007 - 7/1/2025
Summary
The Average Weekly Earnings of All Employees: Leisure and Hospitality in Minnesota measures the average weekly wages for workers in the leisure and hospitality sector in the state. This data provides insights into the economic conditions and labor market trends within Minnesota's service industry.
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
This data series tracks the average weekly earnings for all employees in the leisure and hospitality industry across Minnesota. It serves as an important indicator of wage growth, spending power, and labor market dynamics within this key service sector of the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through monthly surveys of establishments.
Historical Context
Economists and policymakers use this trend to assess the overall health and competitiveness of Minnesota's service industry.
Key Facts
- Minnesota's leisure and hospitality sector employs over 300,000 workers.
- Average weekly earnings in this sector have increased by 20% over the past decade.
- The leisure and hospitality industry accounts for nearly 10% of Minnesota's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings for all employees in the leisure and hospitality industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into wage growth, labor market conditions, and the overall health of Minnesota's service industry, which is a significant contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through monthly surveys of establishments.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the competitiveness and performance of Minnesota's leisure and hospitality sector, which informs decisions related to economic development, workforce planning, and industry regulations.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis, with a typical delay of 1-2 months from the reference period. The data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Minnesota (SMU27000007000000011), retrieved from FRED.