All Employees: Accommodation in Virginia
SMU51000007072100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.20
Year-over-Year Change
-8.85%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the accommodation industry in Virginia. It provides valuable insights into the state's tourism and hospitality sector.
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 Virginia series tracks the total number of people employed in hotels, motels, and other accommodation establishments across the state. This data is a key indicator of economic activity and the health of the tourism industry.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the performance of Virginia's hospitality sector and make informed decisions about economic development.
Key Facts
- Virginia's accommodation industry employs over 80,000 people.
- Employment in this sector has grown by 15% over the past 5 years.
- The accommodation industry accounts for 2.5% of Virginia's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the accommodation industry in the state of Virginia, including hotels, motels, and other lodging establishments.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the health and performance of Virginia's tourism and hospitality sector, which is a crucial part of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted 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 strength of Virginia's tourism industry and make informed decisions about economic development and support for the hospitality sector.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months between the reference period and the release date.
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Citation
U.S. Federal Reserve, All Employees: Accommodation in Virginia (SMU51000007072100001A), retrieved from FRED.