All Employees: Professional, Scientific, and Technical Services in Montana
SMU30000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29.00
Year-over-Year Change
47.21%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the professional, scientific, and technical services industry in Montana. It provides important insights into the state's knowledge-based economy and workforce.
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: Professional, Scientific, and Technical Services in Montana data series tracks the monthly employment levels in this key sector, which includes a wide range of highly skilled occupations such as accounting, legal services, engineering, and scientific research.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by policymakers, industry analysts, and businesses to gauge the strength and direction of Montana's professional services industry.
Key Facts
- Montana's professional services sector accounts for over 10% of the state's total employment.
- Employment in this industry has grown by 15% in Montana over the past 5 years.
- The average annual wage in Montana's professional services sector is over $70,000.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the professional, scientific, and technical services industry in the state of Montana.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the strength and composition of Montana's knowledge-based economy, which is a key driver of economic growth and development in the state.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, industry groups, and businesses closely monitor this trend to gauge the health and trajectory of Montana's professional services sector, which has significant implications for the state's overall economic performance.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical one-month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Montana (SMU30000006054000001A), retrieved from FRED.