All Employees: Accommodation and Food Services in South Carolina
SMU45000007072000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
244.10
Year-over-Year Change
28.41%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures total employment in the accommodation and food services industry in South Carolina. It is an important indicator of the state's tourism and hospitality sector performance.
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 South Carolina data series tracks the total number of individuals employed in the accommodation and food services industry within the state. This metric provides insights into the health and growth of South Carolina's crucial tourism and hospitality economy.
Methodology
The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this employment trend to assess the strength of South Carolina's service-based economy and make informed decisions about economic development.
Key Facts
- South Carolina's accommodation and food services industry employs over 300,000 people.
- Employment in this sector has grown by over 20% in the past decade.
- The industry accounts for a significant portion of the state's economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals employed in the accommodation and food services industry within the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides important insights into the health and performance of South Carolina's vital tourism and hospitality sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this employment trend to assess the strength of South Carolina's service-based economy and make informed decisions about economic development and support for the tourism industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, All Employees: Accommodation and Food Services in South Carolina (SMU45000007072000001A), retrieved from FRED.