All Employees: Food Services and Drinking Places in Arizona
SMU04000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
263.60
Year-over-Year Change
38.96%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Food Services and Drinking Places in Arizona' trend measures the total employment in the food service and drinking establishment industry in the state of Arizona. This data provides valuable insights into the economic health and consumer activity in the local hospitality 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
This series tracks the number of people employed in Arizona's food services and drinking places, which includes restaurants, bars, cafes, and other eateries. It serves as an important indicator of consumer spending, business operations, and overall economic conditions in the state's hospitality industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength of Arizona's service-oriented economy and consumer demand.
Key Facts
- Arizona's food services and drinking places employ over 300,000 workers.
- Employment in this sector has grown by 20% over the past decade.
- The industry accounts for nearly 10% of total nonfarm employment in Arizona.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the food services and drinking places industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending, business activity, and economic conditions in Arizona's hospitality sector, which is a major part 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 analysts use this metric to assess the strength of Arizona's service-oriented economy and consumer demand, which informs decisions on economic policies and interventions.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Food Services and Drinking Places in Arizona (SMU04000007072200001A), retrieved from FRED.