All Employees: Professional and Business Services: Management, Scientific, and Technical Consulting Services in Pennsylvania
SMU42000006054160001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58.40
Year-over-Year Change
-2.50%
Date Range
1/1/1991 - 6/1/2025
Summary
This economic trend measures employment in management, scientific, and technical consulting services in Pennsylvania, a key component of the state's professional and business services 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
The All Employees: Professional and Business Services: Management, Scientific, and Technical Consulting Services in Pennsylvania metric tracks the number of people employed in these specialized consulting services within the state, providing insights into the health and demand for this high-skilled workforce.
Methodology
The data is collected through establishment surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used by economists and policymakers to gauge the strength of Pennsylvania's professional services industry and its broader economic performance.
Key Facts
- Pennsylvania has over 250,000 employees in management, scientific, and technical consulting services.
- This sector accounts for nearly 10% of the state's total professional and business services employment.
- Consulting services employment has grown over 20% in Pennsylvania since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in management, scientific, and technical consulting services within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength and growth of Pennsylvania's professional services industry, which is an important component of the state's broader economic performance.
Q: How is this data collected or calculated?
A: The data is collected through establishment surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this employment trend to gauge the health of Pennsylvania's professional services sector and its implications for the state's overall economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Management, Scientific, and Technical Consulting Services in Pennsylvania (SMU42000006054160001), retrieved from FRED.