All Employees: Professional and Business Services: Scientific Research and Development Services in Maryland
SMU24000006054170001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40.10
Year-over-Year Change
-3.14%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of employees in the scientific research and development services industry in Maryland. It provides insight into the state's scientific and technological workforce.
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: Scientific Research and Development Services in Maryland data series tracks the total employment in this specialized industry sector across the state. It is an important indicator of Maryland's capacity for innovation, research, and development activities.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for policymakers, businesses, and analysts assessing Maryland's competitiveness in high-tech and knowledge-intensive industries.
Key Facts
- Maryland is home to over 500 scientific research and development firms.
- This industry accounts for over 35,000 jobs in the state.
- Employment in this sector has grown by 15% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the scientific research and development services industry within the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides insight into Maryland's capacity for innovation, technological advancement, and high-skilled job creation.
Q: How is this data collected or calculated?
A: The data is collected through 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 data to assess Maryland's competitiveness in knowledge-intensive industries and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Scientific Research and Development Services in Maryland (SMU24000006054170001), retrieved from FRED.