All Employees: Accommodation in Minnesota
SMU27000007072100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.10
Year-over-Year Change
-1.14%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the accommodation industry in Minnesota. It is an important indicator of economic activity and consumer demand in the state's tourism and travel 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 Minnesota statistic tracks the total number of people employed in hotels, motels, and other accommodation businesses across the state. This data provides insights into the health and performance of Minnesota's hospitality industry, which is a significant contributor to the state's economy.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economic analysts, and industry stakeholders to gauge consumer spending patterns and make informed decisions.
Key Facts
- Minnesota's accommodation industry employs over 50,000 people.
- Accommodation jobs account for nearly 2% of total employment in the state.
- The accommodation sector has seen steady growth in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the accommodation industry in the state of Minnesota, including hotels, motels, and other lodging businesses.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the performance and health of Minnesota's hospitality and tourism sectors, which are crucial contributors to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry stakeholders closely monitor this trend to gauge consumer spending patterns and make informed decisions about economic development, tourism promotion, and other policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of 1-2 months. There may be some limitations in coverage or accuracy for smaller geographic areas or specific industry segments.
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Citation
U.S. Federal Reserve, All Employees: Accommodation in Minnesota (SMU27000007072100001A), retrieved from FRED.