All Employees: Food Services and Drinking Places in Virginia
SMU51000007072200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
305.80
Year-over-Year Change
15.27%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the total number of people employed in the food services and drinking places industry in the state of Virginia. It provides insights into the health and dynamics of this important sector of the state's 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: Food Services and Drinking Places in Virginia series measures the seasonally adjusted total employment in the food services and drinking places industry across the state. This metric is a key indicator of consumer demand, business activity, and economic conditions in Virginia's hospitality and leisure sectors.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists, policymakers, and business leaders to assess the broader economic climate and consumer spending patterns in Virginia.
Key Facts
- Virginia has over 20,000 food service and drinking establishments.
- The food service industry accounts for over 400,000 jobs in the state.
- Employment in this sector grew by 4.2% in Virginia last year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the food services and drinking places industry across the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into consumer demand, business activity, and economic conditions in Virginia's hospitality and leisure sectors.
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: This trend is closely monitored by economists, policymakers, and business leaders to assess the broader economic climate and consumer spending patterns in Virginia.
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 Virginia (SMU51000007072200001A), retrieved from FRED.