All Employees: Leisure and Hospitality in South Carolina
SMU45000007000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
281.50
Year-over-Year Change
29.90%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the leisure and hospitality sector in South Carolina. It is an important indicator of economic activity and consumer demand 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
The All Employees: Leisure and Hospitality in South Carolina metric tracks the total employment in industries such as hotels, restaurants, entertainment, and recreation within the state. This data provides insights into the health and performance of South Carolina's service-based economy.
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 trend to assess the strength of South Carolina's tourism and consumer-driven industries.
Key Facts
- South Carolina's leisure and hospitality sector accounts for over 10% of the state's total employment.
- Employment in this sector has seen significant fluctuations due to the COVID-19 pandemic.
- The leisure and hospitality industry is a major driver of economic activity and tax revenue in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the leisure and hospitality sector in the state of South Carolina, including industries like hotels, restaurants, entertainment, and recreation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the strength and performance of South Carolina's service-based, consumer-driven economy, which is an important factor for policymakers, businesses, and economic analysts to monitor.
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 trend to assess the health of South Carolina's tourism and hospitality industries, which are critical to the state's economic growth and tax revenue.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the metric may not capture all informal or unregistered employment in the leisure and hospitality sector.
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Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality in South Carolina (SMU45000007000000001A), retrieved from FRED.