All Employees: Accommodation in the District of Columbia
SMU11000007072100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14.20
Year-over-Year Change
-7.19%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the accommodation industry in the District of Columbia. It provides insight into the strength and growth 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: Accommodation in the District of Columbia metric tracks the total employment in hotels, motels, and other accommodation establishments within the Washington, D.C. metropolitan area. This data point is a key indicator of economic activity and consumer demand in the region's tourism and travel industry.
Methodology
The data is collected through monthly surveys of private businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health of the District's hospitality and service economy.
Key Facts
- Washington, D.C. has over 30,000 accommodation jobs.
- Accommodation employment has increased by 25% since 2010.
- The hospitality sector accounts for 6% of total jobs in the District.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of employees working in the accommodation industry, such as hotels and motels, within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: The accommodation employment data provides insight into the strength of the local hospitality and tourism sectors, which are key drivers of economic activity in Washington, D.C.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of private businesses 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 health of the District's service-based economy and make informed decisions regarding investment, regulation, and development in the hospitality industry.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, All Employees: Accommodation in the District of Columbia (SMU11000007072100001A), retrieved from FRED.