All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Minnesota
SMU27000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
170.50
Year-over-Year Change
1.91%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the number of employees in the professional, scientific, and technical services sector in Minnesota. It provides insight into the health and growth of high-skilled, knowledge-based industries 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: Professional and Business Services: Professional, Scientific, and Technical Services in Minnesota metric tracks the total number of jobs in industries such as legal services, accounting, architecture, engineering, and scientific research. This data is used by economists and policymakers to analyze the strength of Minnesota's knowledge economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by state and local officials to monitor the competitiveness of Minnesota's business environment and high-skill workforce.
Key Facts
- Minnesota's professional, scientific, and technical services sector employs over 300,000 workers.
- This industry accounted for over 10% of the state's total nonfarm employment in 2022.
- Employment in this sector has grown by 20% in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in professional, scientific, and technical services industries in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the strength and growth of high-skilled, knowledge-based sectors that are crucial to Minnesota's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: State and local officials use this metric to monitor the business environment and high-skill workforce in Minnesota, informing economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a slight lag, typically a few weeks after the end of each reference period.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Minnesota (SMU27000006054000001), retrieved from FRED.