All Employees: Accommodation in Massachusetts
SMU25000007072100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
36.50
Year-over-Year Change
9.94%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the total number of employees in the accommodation industry in Massachusetts. It is a key indicator of activity and labor demand in the state's tourism and hospitality sectors.
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 Massachusetts data series measures the total employment in businesses providing accommodation services, such as hotels, motels, and similar establishments, across the state. This metric is used to monitor economic conditions and labor market trends in Massachusetts' tourism industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts utilize this trend to assess the health and outlook of Massachusetts' hospitality sector.
Key Facts
- Massachusetts has over 60,000 accommodation employees as of the latest data.
- Accommodation jobs account for around 2% of total employment in the state.
- The accommodation industry is a major driver of Massachusetts' economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the accommodation industry in Massachusetts, including hotels, motels, and similar establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of activity and labor demand in Massachusetts' tourism and hospitality sectors, which are key drivers of the state's economy.
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 industry analysts utilize this trend to assess the health and outlook of Massachusetts' hospitality sector, which informs economic and tourism development policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Accommodation in Massachusetts (SMU25000007072100001A), retrieved from FRED.