All Employees: Food Services and Drinking Places in South Carolina
SMU45000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
211.80
Year-over-Year Change
30.74%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Food Services and Drinking Places in South Carolina' trend measures the total employment in the food service and drinking establishment industry within the state of South Carolina. This metric is an important indicator of economic activity and consumer spending patterns.
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
This data series tracks the number of people employed at food service and drinking establishments in South Carolina, including restaurants, bars, and other hospitality venues. It provides insights into the strength of the state's hospitality and tourism sectors, which are crucial components of the local economy.
Methodology
The data is collected through monthly surveys of South Carolina businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the health of the state's service industry and consumer demand.
Key Facts
- South Carolina's food services and drinking places employ over 250,000 people.
- Employment in this sector has grown by 15% over the past 5 years.
- The industry accounts for 10% of the state's total non-farm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total employment in the food services and drinking places industry within the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of South Carolina's hospitality and tourism sectors, which are crucial components of the local economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of South Carolina businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health of the state's service industry and consumer demand.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, All Employees: Food Services and Drinking Places in South Carolina (SMU45000007072200001A), retrieved from FRED.