All Employees: Accommodation and Food Services in Utah
SMU49000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.30
Year-over-Year Change
44.02%
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 Utah. It provides valuable insights into the strength and performance of this key sector of the Utah 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 Utah data series tracks the total number of people employed in the accommodation and food services industry across the state. This metric is closely watched by economists and policymakers as it reflects consumer demand, business confidence, and labor market conditions in a critical service-oriented industry.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used to assess the overall health of Utah's service economy and guide policy decisions related to tourism, workforce development, and economic diversification.
Key Facts
- Utah's accommodation and food services industry employs over 160,000 workers.
- Employment in this sector has grown by over 20% in the past decade.
- The industry accounts for nearly 10% of Utah's total non-farm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the accommodation and food services industry across the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched as it reflects consumer demand, business confidence, and labor market conditions in a critical service-oriented industry within the Utah economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is used to assess the overall health of Utah's service economy and guide policy decisions related to tourism, workforce development, and economic diversification.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in reporting due to the survey-based methodology.
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Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in Utah (SMU49000007072000001A), retrieved from FRED.