All Employees: Accommodation and Food Services in Maryland
SMU24000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
224.30
Year-over-Year Change
8.67%
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 Maryland. It provides insight into the strength and resilience of a key service sector within the state's economy.
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 Maryland indicator tracks monthly employment levels in businesses such as hotels, restaurants, bars, and other food and lodging establishments located in the state. This metric is used by economists and policymakers to monitor the health and growth of Maryland's hospitality and tourism-related industries.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in accommodation and food services employment are closely watched as an indicator of consumer spending and confidence.
Key Facts
- Maryland's accommodation and food services sector accounts for over 10% of the state's total employment.
- Employment in this industry tends to be sensitive to changes in the broader economy.
- The COVID-19 pandemic had a significant negative impact on this sector in Maryland.
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 within the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and performance of a key service sector in Maryland's economy, which is closely tied to consumer spending and tourism activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in accommodation and food services employment are monitored by economists and policymakers as an indicator of consumer confidence and spending patterns, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions as more complete information becomes available.
Related Trends
Proprietors' Nonfarm Income in Maryland
MDONON
Gross Domestic Product: Administrative and Support and Waste Management and Remediation Services (56) in Maryland
MDADMINWASTNQGSP
Monthly State Retail Sales: Furniture and Home Furnishings Stores in Maryland
MSRSMD442
Commercial Carbon Dioxide Emissions, Natural Gas (Pipeline) for Maryland
EMISSCO2VNGCCBMDA
All Employees: Leisure and Hospitality: Accommodation and Food Services in Maryland
SMS24000007072000001
Transportation Carbon Dioxide Emissions, Residential for Maryland
EMISSCO2VCLACBMDA
Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in Maryland (SMU24000007072000001A), retrieved from FRED.