All Employees: Accommodation and Food Services in Virginia
SMU51000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
347.00
Year-over-Year Change
11.76%
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 Virginia. It provides important insights into the labor market and economic activity within this key service 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 Virginia metric tracks the total employment across hotels, restaurants, and other food and lodging establishments in the state. This data is widely used by economists, policymakers, and industry analysts to monitor economic conditions and consumer demand.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for assessing the health of Virginia's tourism and hospitality industries, as well as the broader service economy.
Key Facts
- Virginia's accommodation and food services industry employs over 400,000 workers.
- This sector accounts for nearly 10% of total employment in the state.
- Employment in this industry has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the accommodation and food services industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of Virginia's tourism and hospitality sectors, which are critical components of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments 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 monitor the strength of consumer demand and make informed decisions about economic and tourism-related policies in Virginia.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a short lag time, allowing for timely analysis of the latest economic conditions.
Related Trends
Real Gross Domestic Product: Furniture and Related Product Manufacturing (337) in Virginia
VAFURNMANRGSP
Interbank Deposits in All Commercial Banks in Virginia
X08IOACBIVA
Number of State Member Commercial Banks in Virginia
X08CBMBSVA
Resident Population in Virginia
VAPOP
Value of Exports to Portugal from Virginia
VAPRTA052SCEN
Value of Exports to Estonia from Virginia
VAESTA052SCEN
Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in Virginia (SMU51000007072000001A), retrieved from FRED.