Accommodation and Food Services Wages and Salaries in Washington
WAWACC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,671,176.00
Year-over-Year Change
21.96%
Date Range
1/1/1998 - 1/1/2025
Summary
The Accommodation and Food Services Wages and Salaries in Washington metric tracks earnings for workers in the hospitality industry in the state of Washington. This data point is a key indicator of economic activity and labor market conditions in the region.
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
This series measures the total wages and salaries paid to employees in the accommodation and food services sector within the state of Washington. It provides insights into compensation trends and cost pressures facing businesses in the state's hospitality industry.
Methodology
The data is collected through surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of Washington's service economy.
Key Facts
- Washington's accommodation and food services sector employs over 300,000 workers.
- Wages in this industry grew by 5.2% in the past year.
- Earnings in this sector account for over 10% of total wages in Washington.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total wages and salaries paid to employees in the accommodation and food services sector within the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This data point provides insights into compensation trends and cost pressures facing businesses in Washington's hospitality industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through 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 metric to assess the health of Washington's service economy and make informed decisions about economic policies and interventions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Accommodation and Food Services Wages and Salaries in Washington (WAWACC), retrieved from FRED.