All Employees: Accommodation and Food Services in Illinois
SMU17000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
504.80
Year-over-Year Change
10.31%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Accommodation and Food Services in Illinois' series measures the total number of employees in the accommodation and food services industry in the state of Illinois. This trend is a key indicator of economic activity and consumer spending in the state.
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 monthly employment levels in Illinois' accommodation and food services sector, which includes hotels, restaurants, bars, and other hospitality businesses. It provides insight into the strength of the state's leisure and hospitality industry, an important driver of economic growth.
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 data to assess the health of Illinois' service-based economy and consumer confidence.
Key Facts
- Illinois has the 5th largest accommodation and food services workforce in the U.S.
- Employment in this sector grew by 3.2% in Illinois over the past year.
- The accommodation and food services industry accounts for over 10% of total employment in Illinois.
FAQs
Q: What does this economic trend measure?
A: This series measures the total number of employees in the accommodation and food services industry in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the strength of Illinois' leisure and hospitality sector, an important driver of economic activity and consumer spending in the state.
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 data to assess the health of Illinois' service-based economy and consumer confidence.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in Illinois (SMU17000007072000001A), retrieved from FRED.