All Employees: Employment Services in Massachusetts
SMU25000006056130001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.40
Year-over-Year Change
0.66%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures employment in the services industry in the state of Massachusetts. It is a key indicator of economic activity and labor market conditions in the state.
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: Employment Services in Massachusetts metric tracks the total number of people employed in the services industry in the state. This data series is used by economists and policymakers to assess the health and growth of the state's services sector and labor market.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the performance of Massachusetts' services-based economy and can inform policy decisions.
Key Facts
- Massachusetts is a major hub for the services industry.
- Employment in the services sector accounts for over 80% of the state's workforce.
- The employment services trend has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the services industry in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and growth of Massachusetts' services-based economy, which is important for understanding the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend can inform policy decisions related to the services sector and labor market in Massachusetts.
Q: Are there update delays or limitations?
A: The data is released monthly, with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, All Employees: Employment Services in Massachusetts (SMU25000006056130001A), retrieved from FRED.