All Employees: Service-Providing in Maryland
SMS24000000700000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,582.10
Year-over-Year Change
0.72%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the total number of service-providing employees in the state of Maryland. It provides valuable insights into the health and composition of the state's labor market.
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: Service-Providing in Maryland metric tracks the total number of workers employed in the service-providing sector within the state. This includes jobs across various industries such as trade, transportation, utilities, information, financial activities, professional services, education, health care, and leisure and hospitality.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess the state's economic performance and make informed decisions.
Key Facts
- Maryland has a large and diverse service sector economy.
- Service-providing jobs account for over 80% of total employment in the state.
- The service sector has been a key driver of Maryland's economic growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of service-providing employees in the state of Maryland, providing insights into the size and composition of the state's labor market.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the health and dynamics of Maryland's economy, as the service sector is a significant driver of employment and economic activity in the state.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this trend to assess the state's economic performance and make informed decisions about policies, investments, and strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of a few weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Maryland (SMS24000000700000001), retrieved from FRED.