All Employees: Legal Services in Colorado
SMU08000006054110001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.70
Year-over-Year Change
10.11%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the legal services industry in the state of Colorado. It is an important indicator of the health and activity of the legal sector within the state's economy.
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: Legal Services in Colorado series tracks the total number of individuals employed in the legal services industry across the state. This data provides insight into the size and performance of Colorado's legal services sector, which is a key component of the state's professional and business services industry.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this metric to assess the economic conditions and labor market trends in Colorado's legal industry.
Key Facts
- Colorado's legal services industry employs over 40,000 people.
- Legal services account for approximately 1.5% of Colorado's total nonfarm employment.
- Employment in Colorado's legal sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals employed in the legal services industry across the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and performance of Colorado's legal services sector, which is an important component of the state's professional and business services industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic conditions and labor market trends in Colorado's legal industry.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis with a lag of several weeks.
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Citation
U.S. Federal Reserve, All Employees: Legal Services in Colorado (SMU08000006054110001A), retrieved from FRED.