Annual
LFAC55FEO1A647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42,337,000.00
Year-over-Year Change
50.53%
Date Range
1/1/2005 - 1/1/2016
Summary
The Annual trend measures the total number of employees in the leisure and hospitality sector in the United States. This metric is a key indicator of the health and performance of the service industry.
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 Annual trend represents the total employment in the leisure and hospitality sector, which includes industries such as food services, accommodation, arts, entertainment, and recreation. This data is widely used by economists and policymakers to assess the strength of the service economy and consumer spending patterns.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
The Annual trend is closely monitored by the Federal Reserve and other government agencies to inform economic policy decisions.
Key Facts
- The leisure and hospitality sector accounts for over 17 million jobs in the U.S.
- Employment in this sector declined sharply during the COVID-19 pandemic but has since rebounded.
- The Annual trend is a leading indicator of consumer confidence and spending patterns.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of employees in the leisure and hospitality sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the health and performance of the service industry, which is a significant driver of the U.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: The Annual trend is closely monitored by the Federal Reserve and other government agencies to inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Annual (LFAC55FEO1A647S), retrieved from FRED.