Average Hourly Earnings of All Employees: Leisure and Hospitality in South Carolina
SMU45000007000000003 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.37
Year-over-Year Change
0.62%
Date Range
1/1/2007 - 6/1/2025
Summary
This economic trend measures the average hourly earnings of all employees in the leisure and hospitality sector in South Carolina. It provides important insights into wage growth and labor market conditions in this key 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
The Average Hourly Earnings of All Employees: Leisure and Hospitality in South Carolina is a monthly economic indicator that tracks the average hourly wage paid to workers in the leisure and hospitality sector across the state. This metric is used by economists and policymakers to assess labor market dynamics and inflationary pressures.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by analysts and policymakers to understand the health of the tourism and service industries in South Carolina.
Key Facts
- South Carolina's leisure and hospitality sector employs over 400,000 people.
- Wages in this industry have risen by 15% over the past 5 years.
- The state's tourism industry generates over $20 billion in annual revenue.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of all employees in the leisure and hospitality sector in South Carolina, providing insights into wage growth in this key industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market dynamics and inflationary pressures in South Carolina's tourism and service industries.
Q: How is this data collected or calculated?
A: The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by analysts and policymakers to assess the health of South Carolina's tourism and service sectors.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Average Hourly Earnings of All Employees: Leisure and Hospitality in South Carolina (SMU45000007000000003), retrieved from FRED.