All Employees: Accommodation and Food Services in Rhode Island
SMU44000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.90
Year-over-Year Change
17.42%
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 the state of Rhode Island. It is a key indicator of economic activity and consumer demand in the 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
The All Employees: Accommodation and Food Services in Rhode Island metric tracks the total employment levels in the state's hotels, restaurants, bars, and other hospitality businesses. It provides insights into the strength of the local tourism and service economy.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers and businesses to gauge the health of Rhode Island's consumer-facing industries.
Key Facts
- Rhode Island has over 50,000 accommodation and food service employees.
- The industry accounts for 10% of the state's total employment.
- Employment in this sector has rebounded to pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the accommodation and food services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of Rhode Island's hospitality and consumer-facing sectors, which are key drivers 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: Policymakers and businesses closely monitor this trend to gauge the health of Rhode Island's tourism and service industries.
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 Rhode Island (SMU44000007072000001A), retrieved from FRED.