All Employees: Private Service Providing in North Dakota
SMU38000000800000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
289.70
Year-over-Year Change
1.08%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the total number of private service-providing employees in North Dakota. It is a key indicator of the state's economic health and labor market conditions.
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: Private Service Providing in North Dakota series tracks the number of workers employed in the state's private service-providing industries, which include trade, transportation, utilities, information, financial activities, professional and business services, education, health care, leisure, and hospitality.
Methodology
The data is collected through monthly surveys of North Dakota employers by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists, policymakers, and businesses to monitor the performance of North Dakota's service sector and guide decisions related to investment, hiring, and economic development.
Key Facts
- North Dakota has a large and diverse service sector economy.
- Private service-providing jobs account for over 70% of total employment in the state.
- The trend has shown steady growth in recent years, reflecting North Dakota's strong economic performance.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of private service-providing employees in the state of North Dakota, providing insight into the health of the state's service sector economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of North Dakota's economic conditions and labor market performance, helping guide investment, hiring, and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of North Dakota employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and businesses use this trend to monitor the state's service sector and make informed decisions related to economic development, investment, and job creation.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Private Service Providing in North Dakota (SMU38000000800000001), retrieved from FRED.