All Employees: Professional and Business Services in Maine
MEPBSV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
78.20
Year-over-Year Change
-0.13%
Date Range
1/1/1990 - 6/1/2025
Summary
The 'All Employees: Professional and Business Services in Maine' trend measures the total number of individuals employed in the professional and business services sector in the state of Maine. This metric is important for economists and policymakers to assess the health and growth of Maine's service-based 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 series represents the total number of nonfarm employees in Maine's professional and business services industry, which includes jobs in fields like legal services, accounting, engineering, management, and administrative support. It provides insight into the vitality and composition of the state's service sector.
Methodology
The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to evaluate Maine's economic performance and competitiveness compared to national trends.
Key Facts
- Maine's professional and business services sector accounts for over 10% of total nonfarm employment.
- Employment in this sector has grown by 15% in Maine over the past decade.
- The COVID-19 pandemic led to a 6% decline in professional/business services jobs in Maine in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals employed in the professional and business services sector in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and growth of Maine's service-based economy, which is crucial for policymakers and economists assessing the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Maine's economic competitiveness and performance compared to national trends in the professional and business services sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in Maine (MEPBSV), retrieved from FRED.