All Employees: Professional and Business Services in Rhode Island
RIPBSV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.20
Year-over-Year Change
3.88%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the total number of employees in the professional and business services sector in Rhode Island. It provides insight into the state's labor market and economic activity in this key industry.
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 and Business Services in Rhode Island series tracks the total employment levels in industries such as legal services, accounting, engineering, management, and administrative support. This metric serves as an important indicator of the overall health and growth of Rhode Island's professional services economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the strength of Rhode Island's service-oriented economy and make informed decisions.
Key Facts
- Rhode Island's professional and business services sector employs over 50,000 workers.
- This industry accounts for nearly 15% of the state's total non-farm employment.
- Employment in professional services has grown by 8% in Rhode Island over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the professional and business services sector in Rhode Island, including industries like legal services, accounting, engineering, and administrative support.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and growth of Rhode Island's service-oriented economy, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess the health of Rhode Island's labor market and make informed decisions about economic development, workforce training, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in Rhode Island (RIPBSV), retrieved from FRED.