All Employees: Leisure and Hospitality in Washington
SMU53000007000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
346.10
Year-over-Year Change
24.81%
Date Range
1/1/1990 - 1/1/2024
Summary
The All Employees: Leisure and Hospitality in Washington trend measures employment in the leisure and hospitality sector for the state of Washington. This metric is important for economists and policymakers to understand labor market conditions 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
The All Employees: Leisure and Hospitality in Washington series tracks the total number of persons on nonfarm payrolls in the leisure and hospitality industry within the state of Washington. This data provides insight into the strength of Washington's service-oriented economy and consumer demand.
Methodology
The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely watched by policymakers and market analysts to gauge the health of Washington's economy and consumer spending behavior.
Key Facts
- Washington's leisure and hospitality sector accounts for over 10% of total state employment.
- Employment in this sector has been a leading indicator of economic recovery following recessions.
- The COVID-19 pandemic caused a significant drop in leisure and hospitality jobs in Washington.
FAQs
Q: What does this economic trend measure?
A: The All Employees: Leisure and Hospitality in Washington trend measures the total number of persons employed in the leisure and hospitality industry within the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This employment trend provides important insights into the strength of Washington's service-oriented economy and consumer spending patterns, which are key indicators monitored by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is closely watched by policymakers and market analysts to gauge the health of Washington's economy and consumer spending behavior, which informs economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The All Employees: Leisure and Hospitality in Washington data is published monthly with a typical delay of one to two months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Leisure and Hospitality in Washington (SMU53000007000000001A), retrieved from FRED.