All Employees: Leisure and Hospitality in North Dakota
SMU38000007000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.80
Year-over-Year Change
7.09%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the total number of employees in the leisure and hospitality sector in North Dakota. It serves as an important indicator of economic activity and consumer demand in the state.
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 in North Dakota series measures the monthly change in the total number of employees in the leisure and hospitality industry, which includes restaurants, hotels, arts, entertainment, and recreation. This data is widely used by economists and policymakers to assess the health of North Dakota's service-based economy.
Methodology
The data is collected through surveys of North Dakota employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in leisure and hospitality employment are closely watched for insights into consumer spending and the broader economic conditions in North Dakota.
Key Facts
- North Dakota's leisure and hospitality sector accounts for over 10% of the state's total employment.
- The industry experienced significant job losses during the COVID-19 pandemic but has since recovered.
- Leisure and hospitality employment is a leading indicator of consumer confidence and spending in North Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the leisure and hospitality sector in the state of North Dakota, including jobs in restaurants, hotels, arts, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: Trends in leisure and hospitality employment are closely watched as an indicator of consumer demand and overall economic health in North Dakota.
Q: How is this data collected or calculated?
A: The data is collected through surveys of North Dakota employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the strength of North Dakota's service-based economy and consumer spending patterns.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical release lag of 1-2 months.
Related Trends
Not in Labor Force: Discouraged Workers for North Dakota
DISCWORKND
All Employees: Other Services in North Dakota
NDSRVO
Average Weekly Hours of All Employees: Professional and Business Services in North Dakota
SMU38000006000000002
Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in North Dakota
MEDLISPRIPERSQUFEEYYND
Housing Inventory: Median Home Size in Square Feet in North Dakota
MEDSQUFEEND
Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in North Dakota
NDRERENTLEAQQGSP
Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality in North Dakota (SMU38000007000000001A), retrieved from FRED.