All Employees: Professional, Scientific, and Technical Services in Alabama
SMU01000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.30
Year-over-Year Change
34.08%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the professional, scientific, and technical services industry in the state of Alabama. It is a key indicator of economic activity and workforce trends in this important sector.
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, Scientific, and Technical Services in Alabama metric tracks the total employment levels in fields such as law, accounting, architecture, engineering, computer systems design, and scientific research. This data provides insights into the health and growth of Alabama's knowledge-based economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of Alabama's professional services sector and its contribution to overall state economic performance.
Key Facts
- Alabama's professional services sector employs over 130,000 workers.
- Employment in this industry has grown by 10% over the past 5 years.
- Professional services account for nearly 10% of Alabama's total nonfarm 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 Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the health and growth of Alabama's knowledge-based economy, which is an important driver of overall state economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of Alabama's professional services sector and its contribution to the state's economic growth.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Alabama (SMU01000006054000001A), retrieved from FRED.