All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Arizona
SMU04000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
168.30
Year-over-Year Change
-2.89%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the number of people employed in professional, scientific, and technical services in Arizona. It provides insight into the state's high-skilled labor market and service sector activity.
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 Arizona series tracks the total nonfarm employment levels in this key industry within the state. It serves as an indicator of economic growth, labor demand, and the strength of Arizona's knowledge-based economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by policymakers, economists, and businesses to assess Arizona's economic conditions and competitiveness.
Key Facts
- Arizona's professional and technical services industry employs over 300,000 workers.
- This sector has grown faster than the overall state economy in recent years.
- High-skilled services make up a significant portion of Arizona's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total nonfarm employment levels in the professional, scientific, and technical services industry within the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the strength and growth of Arizona's high-skilled, knowledge-based 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, economists, and businesses closely monitor this trend to assess Arizona's economic conditions, competitiveness, and the effectiveness of workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Arizona (SMU04000006054000001), retrieved from FRED.