Average Weekly Earnings of All Employees: Leisure and Hospitality in Wisconsin
SMU55000007000000011A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
438.42
Year-over-Year Change
64.99%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly earnings of all employees in the leisure and hospitality industry in Wisconsin. It provides important insights into the wages and compensation 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 Weekly Earnings of All Employees: Leisure and Hospitality in Wisconsin tracks the average weekly earnings for all employees, including full-time and part-time workers, within the leisure and hospitality industry in the state. This metric is a valuable indicator of economic conditions and can inform policy decisions related to employment, consumer spending, and industry trends.
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 policymakers, economists, and industry analysts to assess the economic health and labor market dynamics in Wisconsin's leisure and hospitality sector.
Key Facts
- Wisconsin's leisure and hospitality sector employs over 300,000 people.
- Average weekly earnings in this industry have grown by 25% over the past decade.
- The leisure and hospitality sector accounts for 9% of Wisconsin's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly earnings of all employees, including full-time and part-time workers, in the leisure and hospitality industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the wages and compensation within a key sector of Wisconsin's economy, which can inform decisions and analysis related to employment, consumer spending, and industry performance.
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, economists, and industry analysts closely monitor this trend to assess the economic health and labor market dynamics in Wisconsin's leisure and hospitality sector, which is a significant contributor to the state's overall employment and economic activity.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of approximately one month between the reference period and the data publication.
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Citation
U.S. Federal Reserve, Average Weekly Earnings of All Employees: Leisure and Hospitality in Wisconsin (SMU55000007000000011A), retrieved from FRED.