All Employees: Professional, Scientific, and Technical Services in Louisiana
SMU22000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.20
Year-over-Year Change
13.06%
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 Louisiana. It provides insight into the strength and growth of this vital sector of 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: Professional, Scientific, and Technical Services in Louisiana series tracks the monthly employment levels in this diverse industry, which includes legal services, accounting, architecture, engineering, and other knowledge-based fields. This data point is closely monitored by economists and policymakers to assess broader economic conditions and workforce trends.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment metric is used to inform economic policy decisions and business investment strategies in Louisiana.
Key Facts
- Professional, scientific, and technical services account for over 6% of Louisiana's total employment.
- This industry has experienced steady growth in Louisiana over the past decade.
- The COVID-19 pandemic temporarily reduced employment in this sector in Louisiana.
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 Louisiana, including fields like legal services, accounting, and engineering.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides insights into the strength and growth of a vital sector of Louisiana's economy, which is closely monitored by economists and policymakers.
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 employment metric is used to inform economic policy decisions and business investment strategies in Louisiana.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Bureau of Labor Statistics, with some potential for minor delays in reporting.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Louisiana (SMU22000006054000001A), retrieved from FRED.