Business Applications with Planned Wages: Total for All NAICS in Minnesota
BAWBATOTALSAMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
706.00
Year-over-Year Change
2.47%
Date Range
7/1/2004 - 7/1/2025
Summary
The 'Business Applications with Planned Wages: Total for All NAICS in Minnesota' is a key indicator that tracks the number of new business applications submitted in Minnesota with plans to pay wages to employees. This metric provides insights into entrepreneurial activity and economic dynamism in the state.
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
This series measures the total number of new business applications filed in Minnesota that indicate the applicant plans to hire employees and pay wages. It is an important leading indicator for economists and policymakers as it signals future business formation, job creation, and economic growth potential in the state.
Methodology
The data is collected and published by the U.S. Census Bureau based on administrative records of new business applications.
Historical Context
This metric is widely used by analysts to gauge the health and direction of the Minnesota economy and to inform economic policy decisions.
Key Facts
- Minnesota saw 17,431 new business applications with planned wages in 2022.
- This represents a 3.2% increase from the prior year.
- New business applications are a leading indicator of future job creation.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of new business applications filed in Minnesota that indicate plans to pay wages to employees.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into entrepreneurial activity and signals future business formation, job creation, and economic growth potential in the state.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Census Bureau based on administrative records of new business applications.
Q: How is this trend used in economic policy?
A: This metric is widely used by analysts and policymakers to gauge the health and direction of the Minnesota economy and to inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Business Applications with Planned Wages: Total for All NAICS in Minnesota (BAWBATOTALSAMN), retrieved from FRED.