In 2024, forecasted wages and salaries in the US accommodation and food services sector are valued at $422.96 billion, rising to $433.55 billion in 2025, $443.93 billion in 2026, $454.1 billion in 2027, and hitting $464.06 billion by 2028. As of 2023, the sector's wages and salaries were below $422.96 billion, with the data reflecting a positive year-on-year growth trajectory. Key growth trends show a consistent uplift, averaging a compound annual growth rate (CAGR) that suggests the sector is experiencing steady progress.
Future trends to watch for include automation's impact on operational efficiencies and labor demand, shifts in consumer preferences influencing service structures, and regulatory changes such as minimum wage amendments that could affect wage scales.
