All Employees: Business Support Services in Utah
SMU49000006056140001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.70
Year-over-Year Change
-44.25%
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 Utah. It provides insights into the strength and growth of this key service sector within the state's economy.
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 Utah metric tracks the total employment in establishments that provide a variety of day-to-day operational support activities for other businesses. This data is used by economists, policymakers, and industry analysts to gauge the health and dynamics of Utah's business services industry.
Methodology
The data is collected through monthly surveys of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the broader service economy and supporting industries that contribute to Utah's overall economic performance.
Key Facts
- Utah's business support services industry employs over 75,000 workers.
- Employment in this sector has grown by 20% over the past 5 years.
- Business support services account for 5% of total non-farm employment in Utah.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the business support services industry in the state of Utah. It covers establishments that provide operational support activities for other businesses.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the strength and dynamics of Utah's service sector economy, as business support services represent a significant and growing component of employment in the state.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this data to assess the health and competitiveness of Utah's business services industry, which is a key driver of economic growth and supports a wide range of other sectors.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag, so it provides timely insights into current industry trends.
Related Trends
All Employees: Manufacturing: Durable Goods in Utah
SMS49000003100000001
Production or Nonsupervisory Employees: Manufacturing in Utah
SMU49000003000000006SA
All Employees: Transportation and Utilities: Transportation and Warehousing in Utah
SMU49000004340008901SA
Average Hourly Earnings of All Employees: Private Service Providing in Utah
SMU49000000800000003
Gross Domestic Product: Motion Picture and Sound Recording Industries (512) in Utah
UTMOTPICSNDNGSP
Average Hourly Earnings of All Employees: Education and Health Services: Private Education and Health Services in Utah
SMU49000006500000003
Citation
U.S. Federal Reserve, All Employees: Business Support Services in Utah (SMU49000006056140001A), retrieved from FRED.