All Employees: Food Services and Drinking Places in Pennsylvania
SMU42000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
408.00
Year-over-Year Change
8.40%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Food Services and Drinking Places in Pennsylvania' economic trend measures employment in the food service and drinking establishment industry within the state of Pennsylvania. This metric is closely watched by economists and policymakers to gauge the health of the local service 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
This employment series tracks the total number of persons on nonfarm payrolls in the food services and drinking places industry for the state of Pennsylvania. It is a key indicator of consumer demand and business activity in the hospitality sector, which is an important component of the state's economy.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in Pennsylvania's food service employment are used by analysts to assess the broader economic conditions and consumer spending patterns in the state.
Key Facts
- Pennsylvania has over 30,000 food service and drinking establishments.
- The food service industry employs over 550,000 workers in the state.
- Food service jobs account for nearly 10% of Pennsylvania's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the food services and drinking places industry within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of consumer demand and business activity in Pennsylvania's hospitality sector, which is a significant component of the state'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: Trends in Pennsylvania's food service employment are used by analysts and policymakers to assess broader economic conditions and consumer spending patterns in the state.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, All Employees: Food Services and Drinking Places in Pennsylvania (SMU42000007072200001A), retrieved from FRED.