All Employees: Leisure and Hospitality: Museums, Historical Sites, and Similar Institutions in Illinois
SMU17000007071200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.20
Year-over-Year Change
-6.49%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures employment in the leisure and hospitality sector, specifically for museums, historical sites, and similar institutions in Illinois. It provides insights into the health and recovery of the state's tourism and cultural industries.
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 All Employees: Leisure and Hospitality: Museums, Historical Sites, and Similar Institutions in Illinois series tracks the number of people employed in these establishments within the state. This data is used by economists and policymakers to gauge the economic performance and outlook for Illinois' cultural and tourism sectors.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for analyzing the impact of economic conditions and policy decisions on Illinois' tourism and cultural institutions.
Key Facts
- Illinois has over 1,200 museums, historic sites, and similar institutions.
- The leisure and hospitality sector accounts for 10% of Illinois' total employment.
- Employment in Illinois' museums and cultural institutions declined by 40% during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in museums, historical sites, and similar institutions within the leisure and hospitality sector in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the health and recovery of Illinois' tourism and cultural industries, which are important contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the impact of economic conditions and policy decisions on Illinois' tourism and cultural institutions.
Q: Are there update delays or limitations?
A: The data is published monthly, but there may be a lag of several weeks between the reference period and the release of the data.
Related Trends
All Employees: Manufacturing: Durable Goods: Computer and Electronic Product Manufacturing in Illinois
SMU17000003133400001
Monthly State Retail Sales: Clothing and Clothing Accessories Stores in Illinois
MSRSIL448
All Employees: Scientific Research and Development Services in Illinois
SMU17000006054170001A
Value of Exports to Canada from Illinois
ILCANA052SCEN
Housing Inventory: Median Listing Price Year-Over-Year in Illinois
MEDLISPRIYYIL
Per Capita Personal Consumption Expenditures: Services: Transportation Services for Illinois
ILPCEPCTRANS
Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality: Museums, Historical Sites, and Similar Institutions in Illinois (SMU17000007071200001A), retrieved from FRED.