All Employees: Service-Providing in Minnesota
SMS27000000700000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,584.90
Year-over-Year Change
1.49%
Date Range
1/1/1990 - 6/1/2025
Summary
The 'All Employees: Service-Providing in Minnesota' trend measures the total number of service-providing employees in Minnesota. This metric is an important indicator of economic activity and labor market conditions 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 tracks the total number of employees in service-providing industries within Minnesota, including sectors like trade, transportation, utilities, information, financial activities, professional services, education, health care, and leisure and hospitality. It provides insights into the health and composition of Minnesota's service economy.
Methodology
The data is collected through surveys of Minnesota employers by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by policymakers, analysts, and businesses to understand economic performance and make informed decisions.
Key Facts
- Minnesota's service sector accounts for over 80% of total state employment.
- The service-providing industry has grown faster than overall employment in Minnesota over the past decade.
- Employment in Minnesota's service sector is closely tied to consumer spending and business investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in service-providing industries within the state of Minnesota, including sectors like trade, transportation, utilities, information, financial activities, and more.
Q: Why is this trend relevant for users or analysts?
A: This service-providing employment metric is an important indicator of economic activity and labor market conditions in Minnesota. It provides insights into the health and composition of the state's service economy, which is a critical driver of overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Minnesota employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is closely monitored by policymakers, analysts, and businesses to understand economic performance and make informed decisions about investment, hiring, and other policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Minnesota (SMS27000000700000001), retrieved from FRED.