All Employees: Trade, Transportation, and Utilities in Minnesota
Annual
SMU27000004000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
536.20
Year-over-Year Change
7.58%
Date Range
1/1/1990 - 1/1/2024
Summary
The Annual trend measures the total employment count for the state of New Mexico on an annual basis. It provides important insights into the state's labor market and economic activity.
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 Annual trend tracks the total number of nonfarm employees in New Mexico, offering a comprehensive view of the state's labor force and economic conditions. This metric is widely used by policymakers, economists, and analysts to assess employment trends and inform economic policy decisions.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is a key indicator monitored by the Federal Reserve and other government agencies to gauge the health of the New Mexico economy.
Key Facts
- New Mexico's annual employment reached a record high in 2019.
- The state's employment rate declined sharply during the COVID-19 pandemic in 2020.
- Manufacturing is a key industry driving employment growth in New Mexico.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the total number of nonfarm employees in the state of New Mexico on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health of New Mexico's labor market and overall economic conditions, making it a key indicator monitored by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The Annual trend is closely watched by the Federal Reserve and other government agencies to inform economic policy decisions and assess the state's economic performance.
Q: Are there update delays or limitations?
A: The Annual trend data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU27000004000000001A), retrieved from FRED.