All Employees: Leisure and Hospitality: Restaurants and Other Eating Places in Alabama
SMU01000007072250001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
158.60
Year-over-Year Change
17.66%
Date Range
1/1/2002 - 1/1/2024
Summary
This economic trend measures the number of all employees in the leisure and hospitality sector, specifically restaurants and other eating places, in the state of Alabama. It provides insight into the labor market and economic activity in a key 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 All Employees: Leisure and Hospitality: Restaurants and Other Eating Places in Alabama metric tracks the total number of workers employed in this sub-sector within the broader leisure and hospitality industry in the state. It is an important indicator of consumer demand, business confidence, and the overall health of Alabama's service economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, analysts, and businesses to assess the economic conditions and consumer spending patterns in Alabama.
Key Facts
- Alabama's leisure and hospitality sector accounts for over 10% of the state's total employment.
- Restaurants and other eating places make up the largest sub-sector within leisure and hospitality in Alabama.
- This trend has seen significant volatility during the COVID-19 pandemic due to changes in consumer behavior and restrictions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the leisure and hospitality sector, specifically restaurants and other eating places, in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the labor market, consumer spending, and overall economic conditions in Alabama's service industry, which is a crucial component 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, analysts, and businesses closely monitor this trend to assess the economic conditions and consumer spending patterns in Alabama, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality: Restaurants and Other Eating Places in Alabama (SMU01000007072250001A), retrieved from FRED.