All Employees: Service-Providing in Tennessee
SMU47000000700000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,841.20
Year-over-Year Change
23.40%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Service-Providing in Tennessee' economic trend measures the total number of service-sector employees in the state of Tennessee. This statistic is a key indicator of economic activity and workforce trends.
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 data series tracks the total non-farm employees in service-providing industries across Tennessee, including sectors like trade, transportation, utilities, information, financial activities, professional services, education, health care, and hospitality. It provides valuable insights into the overall health and composition of the state's labor market.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the broader service-sector performance and make informed decisions about economic and workforce development strategies.
Key Facts
- Tennessee's service sector employs over 2.3 million workers.
- The service industry accounts for over 80% of Tennessee's total non-farm employment.
- Tennessee's service-providing employment has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'All Employees: Service-Providing in Tennessee' metric tracks the total number of service-sector workers employed across the state, providing insights into the health and composition of Tennessee's labor market.
Q: Why is this trend relevant for users or analysts?
A: This service-sector employment data is a key indicator of economic activity and workforce trends in Tennessee, which is valuable for policymakers, businesses, and economists analyzing the state's economic performance and development.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through monthly surveys of employers in Tennessee.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this service-sector employment data to assess the broader economic conditions in Tennessee and make informed decisions about workforce development, infrastructure investments, and other economic policies.
Q: Are there update delays or limitations?
A: The service-sector employment data is published monthly with a typical 1-2 month delay, providing timely insights but with some lag in the most recent figures.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Tennessee (SMU47000000700000001A), retrieved from FRED.