Average Hourly Earnings of All Employees: Leisure and Hospitality in Rhode Island
SMU44000007000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.37
Year-over-Year Change
6.76%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the leisure and hospitality industry in Rhode Island. It provides insight into wage dynamics in a key sector of the state's economy.
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 Rhode Island metric tracks the average hourly pay for workers in industries like hotels, restaurants, arts, entertainment, and recreation across the state. This data point is used by economists and policymakers to monitor labor market conditions and consumer spending trends.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in leisure and hospitality wages can signal changes in consumer demand and the overall health of Rhode Island's service-oriented economy.
Key Facts
- Rhode Island's leisure and hospitality sector employs over 50,000 workers.
- Wages in this industry are typically lower than the statewide average.
- Hourly earnings have risen steadily in recent years amid labor shortages.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly pay for employees in Rhode Island's leisure and hospitality industries, including hotels, restaurants, arts, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: Trends in leisure and hospitality wages provide insight into labor market conditions and consumer spending patterns in a key service-oriented sector of Rhode Island's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the health of Rhode Island's service economy and make informed decisions around employment, consumer spending, and other policy areas.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag. It may not fully capture some regional or seasonal variations in the leisure and hospitality industry.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in Rhode Island (SMU44000007000000003), retrieved from FRED.