All Employees: Professional and Business Services: Scientific Research and Development Services in Massachusetts
SMU25000006054170001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.50
Year-over-Year Change
-0.85%
Date Range
1/1/2003 - 7/1/2025
Summary
This trend measures the total number of employees in the scientific research and development services industry in Massachusetts. It provides insights into the state's research and innovation activities, which are crucial for economic growth and competitiveness.
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 Massachusetts series tracks the monthly employment levels in this key economic sector. It is used by policymakers, economists, and industry analysts to assess the state's scientific and technological capabilities.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding Massachusetts' position as a hub for research and development, particularly in fields like biotechnology, computer science, and advanced manufacturing.
Key Facts
- Massachusetts ranks 2nd among U.S. states for R&D spending.
- The scientific research and development services industry employs over 80,000 people in Massachusetts.
- This sector has seen consistent job growth over 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 in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the strength and growth of Massachusetts' research and innovation capabilities, which are crucial for the state's economic competitiveness and long-term prosperity.
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: This trend is used by policymakers, economists, and industry analysts to assess Massachusetts' position as a hub for research and development, and to inform decisions related to economic development, workforce planning, and investment in scientific and technological capabilities.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions and may not capture all employment in this industry.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Scientific Research and Development Services in Massachusetts (SMU25000006054170001), retrieved from FRED.