All Employees: Employment Services in Virginia
SMU51000006056130001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.40
Year-over-Year Change
23.81%
Date Range
1/1/1990 - 1/1/2024
Summary
The All Employees: Employment Services in Virginia metric tracks the total number of employees in the employment services industry within the state of Virginia. This metric provides insights into the labor market dynamics and demand for temporary, contract, and staffing services in the region.
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: Employment Services in Virginia series measures the total number of people employed in the employment services industry, which includes temporary help services, professional employer organizations, and employment placement agencies. This data is a key indicator of labor market conditions and the demand for flexible staffing solutions within the Virginia economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of business establishments.
Historical Context
This economic indicator is used by policymakers, economists, and businesses to assess the strength of the labor market and demand for workforce solutions in Virginia.
Key Facts
- Virginia's employment services industry employed over 100,000 workers as of 2022.
- Employment in this sector grew by 15% in Virginia from 2020 to 2022.
- The employment services industry accounts for approximately 2.5% of total nonfarm employment in Virginia.
FAQs
Q: What does this economic trend measure?
A: The All Employees: Employment Services in Virginia metric tracks the total number of people employed in the employment services industry within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the strength of the labor market and demand for flexible staffing solutions in Virginia, which is useful for policymakers, economists, and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of business establishments.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the health of the Virginia labor market and inform decisions related to workforce development and economic policies.
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: Employment Services in Virginia (SMU51000006056130001A), retrieved from FRED.