All Employees: Durable Goods: Medical Equipment and Supplies Manufacturing in Minnesota
SMU27000003133910001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.20
Year-over-Year Change
23.08%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the number of all employees in the medical equipment and supplies manufacturing industry in Minnesota. It provides insights into the health and performance of this key manufacturing sector 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: Durable Goods: Medical Equipment and Supplies Manufacturing in Minnesota series tracks total employment in this industry, which produces a wide range of medical devices, instruments, and supplies. This metric is closely watched by economists and policymakers to gauge Minnesota's manufacturing competitiveness and the state's role in the national medical technology ecosystem.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in medical equipment manufacturing employment are relevant for assessing Minnesota's economic diversification, workforce development, and overall business climate.
Key Facts
- Minnesota is a major hub for medical device manufacturing.
- This industry employs over 30,000 workers in the state.
- Medical device exports make up a significant portion of Minnesota's total exports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the medical equipment and supplies manufacturing industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and competitiveness of a key manufacturing sector in Minnesota, which has a large medical technology industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in medical equipment manufacturing employment are closely monitored by policymakers and economists to assess Minnesota's overall economic diversification, workforce development, and business climate.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
Related Trends
Average Hourly Earnings of All Employees: Goods Producing in Minnesota
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Personal Consumption Expenditures: Goods: Durable Goods for Minnesota
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Value of Exports to Netherlands from Minnesota
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Other Services (Except Public Administration) Wages and Salaries in Minnesota
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Total Wages and Salaries in Minnesota
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Citation
U.S. Federal Reserve, All Employees: Durable Goods: Medical Equipment and Supplies Manufacturing in Minnesota (SMU27000003133910001A), retrieved from FRED.