Average Weekly Earnings of All Employees: Leisure and Hospitality in Rhode Island
SMU44000007000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
623.98
Year-over-Year Change
4.80%
Date Range
1/1/2007 - 7/1/2025
Summary
This economic trend measures the average weekly earnings of all employees in the leisure and hospitality sector in Rhode Island. It provides insights into the wage dynamics and cost of labor in a key industry for 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 Weekly Earnings of All Employees: Leisure and Hospitality in Rhode Island metric tracks the average weekly compensation paid to workers in Rhode Island's leisure and hospitality industry. This data point is a useful indicator of labor market conditions and cost pressures in a crucial service-oriented sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the state of Rhode Island's tourism and service economy.
Key Facts
- Rhode Island's leisure and hospitality sector accounts for over 10% of the state's employment.
- Average weekly earnings in this industry have grown by over 3% annually in recent years.
- Wage trends in this sector are closely watched for their impact on consumer prices and spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in Rhode Island's leisure and hospitality sector, providing insights into labor costs and wage dynamics in a key service industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the state of Rhode Island's tourism and service economy, as well as broader labor market conditions and cost pressures.
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: Policymakers and analysts use this trend to assess the health of Rhode Island's service sector and its potential impacts on consumer prices, spending, and the broader state economy.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis with a typical 1-2 month lag, so it may not reflect the most recent conditions.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Rhode Island (SMU44000007000000011), retrieved from FRED.