All Employees: Accommodation and Food Services in Pennsylvania
SMU42000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
465.40
Year-over-Year Change
7.73%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the accommodation and food services industry in Pennsylvania. It provides important insights into the health and performance of a key service sector in the state's economy.
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: Accommodation and Food Services in Pennsylvania indicator tracks the total number of people employed in the accommodation and food services industry within the state. This metric is closely watched by economists and policymakers to gauge consumer demand, business activity, and broader economic conditions.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used to inform economic policy decisions and assess the impact of factors like consumer spending, tourism, and business investment in Pennsylvania.
Key Facts
- Pennsylvania's accommodation and food services industry employs over 585,000 workers.
- This sector accounts for nearly 10% of total nonfarm employment in the state.
- Employment in the industry has rebounded to pre-pandemic levels as of 2022.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of people employed in the accommodation and food services industry within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer demand, business activity, and broader economic conditions in a key service sector of Pennsylvania's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is used to inform economic policy decisions and assess the impact of factors like consumer spending, tourism, and business investment in Pennsylvania.
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, All Employees: Accommodation and Food Services in Pennsylvania (SMU42000007072000001A), retrieved from FRED.