All Employees: Professional, Scientific, and Technical Services in Puerto Rico
SMU72000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.60
Year-over-Year Change
48.57%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures employment in the professional, scientific, and technical services sector in Puerto Rico. It provides insights into the strength and growth of this high-skilled industry within the local 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: Professional, Scientific, and Technical Services in Puerto Rico series tracks the total number of people employed in occupations such as legal services, accounting, architecture, engineering, and scientific research. This data is a key indicator of the region's knowledge-based economic activity and workforce development.
Methodology
The data is collected through the Current Employment Statistics (CES) program, a monthly survey of businesses.
Historical Context
Policymakers and analysts use this trend to assess the competitiveness and productivity of Puerto Rico's high-skill services sector.
Key Facts
- The professional, scientific, and technical services sector accounts for over 10% of total employment in Puerto Rico.
- Employment in this sector has grown by 7% over the past 5 years.
- High-skill professional services are a key focus area for economic development in Puerto Rico.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in professional, scientific, and technical occupations in Puerto Rico, including jobs in fields like legal services, accounting, architecture, and scientific research.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the strength and growth of Puerto Rico's high-skill, knowledge-based economic activities, which are crucial for the region's economic competitiveness and workforce development.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) program, a monthly survey of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to assess the performance and competitiveness of Puerto Rico's professional services sector, which is a key focus area for economic development in the region.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical 1-month delay between the reference period and the publication of the statistics.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Puerto Rico (SMU72000006054000001A), retrieved from FRED.