Annual, Not Seasonally Adjusted
SMU08000004245200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.70
Year-over-Year Change
7.89%
Date Range
1/1/1990 - 1/1/2021
Summary
This annual, not seasonally adjusted series measures the total employment in the private service-providing industry in the United States. It is a key indicator of economic activity and labor market trends.
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 total private service-providing employment series provides a comprehensive view of the labor market for the service sector, which accounts for a large and growing share of the U.S. economy. Economists and policymakers analyze this data to understand overall economic performance and make informed decisions.
Methodology
The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample survey of businesses and government agencies.
Historical Context
This employment trend is closely watched by the Federal Reserve and other government agencies to gauge the health of the U.S. economy and inform policy decisions.
Key Facts
- The service sector accounts for over 80% of U.S. employment.
- Service-providing jobs include industries like healthcare, retail, and finance.
- Employment in the service sector is a leading indicator of overall economic performance.
FAQs
Q: What does this economic trend measure?
A: This series measures the total employment in the private service-providing industry in the United States, providing a comprehensive view of the labor market for the service sector.
Q: Why is this trend relevant for users or analysts?
A: This employment trend is closely watched by economists and policymakers as a key indicator of economic activity and labor market health, informing decisions about the overall economy.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey, a monthly nationwide sample survey of businesses and government agencies.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other government agencies closely monitor this employment trend to gauge the health of the U.S. economy and inform their policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of around one month.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (SMU08000004245200001A), retrieved from FRED.