All Employees: Professional, Scientific, and Technical Services in Arkansas
SMU05000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51.40
Year-over-Year Change
39.67%
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 Arkansas. It provides insights into the state's knowledge-based economy and 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, Scientific, and Technical Services in Arkansas metric tracks employment levels across a range of knowledge-intensive occupations, including legal, accounting, engineering, and scientific research services. This data is a key indicator of economic activity and workforce trends in Arkansas's professional services sector.
Methodology
The data is collected through monthly surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to understand the health and growth of Arkansas's high-skilled services industries.
Key Facts
- Arkansas's professional services sector employs over 100,000 workers.
- Employment in this industry has grown by 20% over the past decade.
- Legal services make up the largest share of professional jobs in the state.
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 Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and growth of Arkansas's 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 monthly surveys of businesses and 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 understand workforce and industry trends in Arkansas's professional services sector, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, so there may be a delay in reflecting the most recent employment figures.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Arkansas (SMU05000006054000001A), retrieved from FRED.