Average Weekly Earnings of All Employees: Leisure and Hospitality in South Carolina
SMU45000007000000011 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
499.97
Year-over-Year Change
3.73%
Date Range
1/1/2007 - 7/1/2025
Summary
This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in South Carolina. It provides insight into compensation trends in a key service 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 Weekly Earnings of All Employees: Leisure and Hospitality in South Carolina metric tracks the average weekly pay for workers in the leisure and hospitality industry, which includes businesses like hotels, restaurants, and entertainment venues. This data point is used to analyze wage growth and labor market conditions in the service sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to understand economic conditions and guide decisions around employment, consumer spending, and other areas.
Key Facts
- South Carolina's leisure and hospitality industry employs over 400,000 workers.
- Average weekly earnings in this sector have risen by 15% over the past 5 years.
- The leisure and hospitality industry accounts for 12% of South Carolina's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees in the leisure and hospitality industry in South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into compensation trends in a key service sector of South Carolina's economy, which is useful for analyzing labor market conditions and consumer spending patterns.
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 trend to understand economic conditions and guide decisions around employment, consumer spending, and other areas.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-month delay.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in South Carolina (SMU45000007000000011), retrieved from FRED.