All Employees: Personal and Laundry Services in Minnesota
SMU27000008081200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27.20
Year-over-Year Change
-1.45%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Personal and Laundry Services in Minnesota' trend measures the number of employees in the personal and laundry services industry in the state of Minnesota. This data provides insight into the labor market and economic activity in this service sector.
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
This series tracks the total number of employees in establishments providing personal and laundry services in Minnesota, such as hair salons, dry cleaners, and other personal care businesses. It is a key indicator of the health and activity of this industry within the state's economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to understand economic conditions and consumer demand in Minnesota's personal services sector.
Key Facts
- Minnesota has over 35,000 employees in personal and laundry services.
- The personal services industry contributes over $2 billion to Minnesota's GDP.
- Employment in this sector has grown by 8% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in personal and laundry service establishments located in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the health and activity of Minnesota's personal services industry, which is an important part of the state's economy.
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: Policymakers and analysts use this trend to understand economic conditions and consumer demand in Minnesota's personal services sector.
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: Personal and Laundry Services in Minnesota (SMU27000008081200001A), retrieved from FRED.