All Employees: Professional and Business Services: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Minnesota
SMU27000006054120001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.50
Year-over-Year Change
1.68%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures employment in the accounting, tax preparation, bookkeeping, and payroll services industry in Minnesota. It is an important indicator of the health and activity of the professional services 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: Professional and Business Services: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Minnesota data series tracks the number of people employed in this critical industry. It provides insights into the strength of Minnesota's professional services economy and its ability to support businesses and consumers.
Methodology
This data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists use this trend to assess the state of Minnesota's professional services industry and its broader economic conditions.
Key Facts
- Minnesota has over 60,000 employees in accounting, tax, and payroll services.
- This industry makes up about 10% of the state's professional services sector.
- Employment in this field has grown by 15% in Minnesota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in the accounting, tax preparation, bookkeeping, and payroll services industry in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the strength and activity of Minnesota's professional services sector, which is a key driver of the state's economy.
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: Policymakers and economists use this trend to assess the state of Minnesota's professional services industry and its broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Minnesota (SMU27000006054120001SA), retrieved from FRED.