Average Hourly Earnings of All Employees: Leisure and Hospitality in Mississippi
SMU28000007000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.16
Year-over-Year Change
4.83%
Date Range
1/1/2007 - 7/1/2025
Summary
This trend measures the average hourly earnings of all employees in the leisure and hospitality industry in Mississippi. It is an important economic indicator that provides insights into labor market conditions and consumer spending patterns.
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 All Employees: Leisure and Hospitality in Mississippi metric tracks the average hourly wage for workers in the leisure and hospitality sector, which includes industries like hotels, restaurants, and entertainment. This data is used by economists and policymakers to assess the strength of the state's service economy and consumer demand.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in leisure and hospitality earnings are closely watched for their potential impact on consumer spending and broader economic activity.
Key Facts
- Mississippi's leisure and hospitality sector employs over 200,000 workers.
- Hourly earnings in this sector have risen by 5% over the past year.
- The state's leisure and hospitality industry accounts for nearly 10% of total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the leisure and hospitality industry in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and consumer spending patterns in Mississippi's service economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in leisure and hospitality earnings are closely watched for their potential impact on consumer spending and broader economic activity.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical one-month lag.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Mississippi (SMU28000007000000003), retrieved from FRED.