All Employees: Accommodation and Food Services in West Virginia
SMU54000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.70
Year-over-Year Change
-6.14%
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 West Virginia. It is an important indicator of economic activity and consumer demand in the state.
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 West Virginia metric tracks the total employment levels in the hospitality and dining sector across the state. This data provides insight into the health and trends of a key service industry, which is closely tied to tourism, leisure, and discretionary consumer spending.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used by economists, policymakers, and businesses to understand the economic conditions and outlook in West Virginia.
Key Facts
- West Virginia has over 75,000 employees in the accommodation and food services industry.
- Employment in this sector has grown by 12% in the past 5 years.
- The accommodation and food services industry accounts for 11% of total employment in West Virginia.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of people employed in the accommodation and food services industry across the state of West Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the health and activity of a key service sector in the West Virginia economy, which is closely tied to tourism, consumer spending, and overall economic conditions.
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: Economists, policymakers, and businesses use this employment data to assess the economic conditions and outlook in West Virginia, particularly for the hospitality and leisure industries.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in West Virginia (SMU54000007072000001A), retrieved from FRED.