All Employees: Food Services and Drinking Places in Minnesota
SMU27000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
197.10
Year-over-Year Change
9.26%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Food Services and Drinking Places in Minnesota' trend measures employment levels in the food services and drinking places industry within the state of Minnesota. This metric provides insight into the economic health and labor market conditions of Minnesota's hospitality sector.
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 tracks the total number of employees working in food services and drinking establishments, such as restaurants, bars, and other eateries, located in the state of Minnesota. It is a key indicator of consumer demand and activity in the state's hospitality industry.
Methodology
The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the performance and outlook of Minnesota's food services and hospitality sector.
Key Facts
- Minnesota's food services and drinking places employ over 290,000 workers.
- This industry accounts for over 10% of total private-sector employment in the state.
- Employment in this sector has grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the food services and drinking places industry within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and activity of Minnesota's hospitality sector, which is a significant contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the performance and outlook of Minnesota's food services and hospitality industry, which can inform decisions related to economic development, consumer spending, and employment.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of 1-2 months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Food Services and Drinking Places in Minnesota (SMU27000007072200001A), retrieved from FRED.