All Employees: Business Support Services in Pennsylvania
SMU42000006056140001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.70
Year-over-Year Change
-34.77%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the business support services industry in Pennsylvania. It provides insight into the state's service sector and overall economic activity.
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: Business Support Services in Pennsylvania series tracks the total number of individuals employed in industries such as temporary help services, business service centers, and other administrative and support services within the state. This data is used by economists and policymakers to assess the strength and trends in Pennsylvania's services-based economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by analysts to gauge the health of Pennsylvania's service sector and broader economic conditions.
Key Facts
- Pennsylvania is a major services hub in the Northeastern U.S.
- Business support services account for over 10% of total employment in the state.
- This trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals employed in business support services industries within the state of Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the strength and trends of Pennsylvania's service-based economy, which is a crucial component of the state's overall economic activity.
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: Economists and policymakers closely monitor this trend to gauge the health of Pennsylvania's service sector and inform decisions related to economic development and workforce policies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Business Support Services in Pennsylvania (SMU42000006056140001A), retrieved from FRED.