All Employees: Accommodation and Food Services in Connecticut
SMU09000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.00
Year-over-Year Change
7.42%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of people employed in the accommodation and food services industry in the state of Connecticut. It provides insights into the state's service sector and consumer activity.
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 Connecticut metric tracks the total number of people employed in this key industry, which includes hotels, restaurants, bars, and other hospitality businesses. It is an important indicator of economic conditions and consumer demand within the state.
Methodology
The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by policymakers, businesses, and investors to gauge the health of Connecticut's service economy and consumer spending.
Key Facts
- Connecticut has over 200,000 people employed in the accommodation and food services industry.
- This sector accounts for around 7% of total employment in the state.
- Employment in this industry has rebounded strongly since the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the accommodation and food services industry in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health of Connecticut's service sector and consumer spending, which are important indicators of the state's overall economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and investors closely monitor this trend to gauge the performance of Connecticut's service economy and consumer demand.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of one to two months.
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Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in Connecticut (SMU09000007072000001A), retrieved from FRED.