All Employees: Food Services and Drinking Places in Connecticut
SMU09000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.40
Year-over-Year Change
9.92%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of people employed in the food services and drinking places industry in the state of Connecticut. It provides insight into the strength and dynamics of 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
The All Employees: Food Services and Drinking Places in Connecticut series tracks the monthly employment levels for businesses such as restaurants, bars, and other food and beverage establishments within the state. This data is used by economists and policymakers to assess the health and recovery of Connecticut's service industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment metric is closely watched as an indicator of consumer spending and economic activity in Connecticut's hospitality and tourism markets.
Key Facts
- Connecticut's food services and drinking places employed over 160,000 workers as of 2022.
- The industry accounts for nearly 10% of total nonfarm employment in the state.
- Employment levels declined sharply during the COVID-19 pandemic but have since partially recovered.
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 within the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides insight into the strength and recovery of Connecticut's hospitality and service sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this indicator as a gauge of consumer spending, economic activity, and the health of Connecticut's hospitality and tourism markets.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, so it may not fully reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, All Employees: Food Services and Drinking Places in Connecticut (SMU09000007072200001A), retrieved from FRED.