All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Minnesota
SMS27000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169.70
Year-over-Year Change
1.56%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the number of employees in the professional, scientific, and technical services industry in Minnesota. It provides insights into the state's professional services sector, which is a key indicator of economic activity and workforce trends.
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: Professional, Scientific, and Technical Services in Minnesota series tracks the total number of people employed in this industry within the state. It offers a snapshot of the size and dynamics of Minnesota's professional services sector, which includes a wide range of knowledge-based occupations such as legal, accounting, architecture, engineering, and computer services.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by economists, policymakers, and business analysts to assess the health and growth of Minnesota's professional services industry and its broader economic implications.
Key Facts
- Minnesota's professional services industry employs over 300,000 people.
- This sector has seen steady growth over the past decade.
- Professional services account for nearly 10% of Minnesota's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the professional, scientific, and technical services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the size and dynamics of Minnesota's professional services sector, which is a key indicator of the state's economic activity and workforce trends.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and business analysts to assess the health and growth of Minnesota's professional services industry and its broader economic implications.
Q: Are there update delays or limitations?
A: The data is updated monthly, with a typical release lag of about one month.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Minnesota (SMS27000006054000001), retrieved from FRED.