All Employees: Leisure and Hospitality: Accommodation and Food Services in Virginia
SMU51000007072000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
352.70
Year-over-Year Change
-0.25%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures employment in the leisure and hospitality sector, specifically in the accommodation and food services industry, for the state of Virginia. It provides insight into the health and activity of a key component of the state's service economy.
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: Accommodation and Food Services in Virginia series tracks the number of people employed in businesses like hotels, restaurants, bars, and other hospitality-related establishments across the state. This data is used by economists and policymakers to assess economic conditions and consumer demand.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is an important indicator of consumer spending and business activity in Virginia's service sector.
Key Facts
- Virginia's leisure and hospitality sector employs over 450,000 people.
- Employment in this industry has grown by 15% over the past 5 years.
- The accommodation and food services sub-sector makes up over 75% of total leisure and hospitality jobs in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in the leisure and hospitality sector, specifically in accommodation and food services businesses, across the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides insight into consumer spending patterns and the overall health of Virginia's service economy, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this employment data to assess the performance of Virginia's hospitality industry and make informed decisions about economic policy and stimulus measures.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month, so there may be a short delay in reflecting the most current employment figures.
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Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality: Accommodation and Food Services in Virginia (SMU51000007072000001), retrieved from FRED.