Employment by Economic Activity: Services: All Persons for the European Union
LFEASETTEUQ647S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169,081,925.81
Year-over-Year Change
4.37%
Date Range
1/1/2005 - 10/1/2019
Summary
The 'Employment by Economic Activity: Services: All Persons for the European Union' series measures the total number of service industry workers in the EU. This key labor market indicator provides insight into the health and structure of the European 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
This data series tracks the total employment levels in the service sector across the European Union. Services make up a large and growing portion of economic activity, so this metric is closely watched by economists and policymakers to understand labor market trends and overall economic performance.
Methodology
The data is collected through national labor force surveys and compiled by Eurostat, the European Union's statistical agency.
Historical Context
Policymakers and analysts use this data to inform economic and workforce development policies.
Key Facts
- Services account for over 70% of economic activity in the EU.
- Employment in the EU service sector has grown steadily since the 2008 financial crisis.
- The EU service sector employs over 160 million workers.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of people employed in the service sector across the European Union.
Q: Why is this trend relevant for users or analysts?
A: The service sector is a critical component of the European economy, so tracking employment levels in this industry provides important insights into overall economic performance and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through national labor force surveys and compiled by Eurostat, the European Union's statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to inform economic and workforce development policies, as the service sector is a major driver of employment in the EU.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Employment by Economic Activity: Services: All Persons for the European Union (LFEASETTEUQ647S), retrieved from FRED.