All Employees: Professional and Business Services in Arkansas
SMU05000006000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.70
Year-over-Year Change
29.63%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of people employed in the professional and business services sector in Arkansas. It is an important indicator of economic activity and the health of the state's labor market.
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 in Arkansas indicator tracks monthly changes in the number of non-farm payroll employees in this key industry sector. It provides insights into the strength and direction of the state's professional and business services 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 metric is closely watched by policymakers, economists, and businesses to gauge the performance of Arkansas' services-oriented economy.
Key Facts
- Arkansas has over 200,000 professional and business services employees.
- This sector accounts for nearly 15% of the state's total non-farm employment.
- Employment in this industry has grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the professional and business services sector in Arkansas, including jobs in areas like legal, accounting, engineering, and consulting.
Q: Why is this trend relevant for users or analysts?
A: The professional and business services sector is a key driver of economic activity in Arkansas, so changes in employment in this industry provide important insights into the overall health of the state's labor market and economy.
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: Policymakers, economists, and businesses closely monitor this metric to gauge the performance of Arkansas' services-oriented economy and inform decisions around economic development, workforce training, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a slight delay, typically within the first few weeks after the end of each reference period.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in Arkansas (SMU05000006000000001A), retrieved from FRED.