All Employees: Professional, Scientific, and Technical Services in Arizona
SMU04000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
172.80
Year-over-Year Change
41.18%
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 Arizona. It provides valuable insights into the labor market and economic activity 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 Arizona series tracks the total number of employees in industries such as legal services, accounting, architecture, engineering, computer systems design, and scientific research and development. This data is used by economists and policymakers to analyze workforce trends and the health of the state's knowledge-based economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is closely monitored by businesses, investors, and government agencies to understand the performance and outlook of Arizona's professional services sector.
Key Facts
- Arizona's professional, scientific, and technical services industry employs over 270,000 workers.
- This sector has seen steady job growth in recent years, outpacing the overall state economy.
- The professional services industry accounts for nearly 10% of Arizona'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 Arizona.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the labor market and economic activity in Arizona's knowledge-based industries, which are crucial for understanding the state's overall economic performance.
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 economic indicator is closely monitored by businesses, investors, and government agencies to understand the performance and outlook of Arizona's professional services sector, which is an important driver of the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Arizona (SMU04000006054000001A), retrieved from FRED.