All Employees: Professional and Business Services in Tennessee
TNPBSV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
458.90
Year-over-Year Change
0.88%
Date Range
1/1/1990 - 6/1/2025
Summary
The 'All Employees: Professional and Business Services in Tennessee' series tracks the number of people employed in the professional and business services sector in the state of Tennessee. This metric is a key indicator of economic activity and the strength of the state's service-based industries.
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 professional and business services sector encompasses a wide range of occupations, including legal services, accounting, architecture, engineering, computer systems design, management and consulting, and administrative support. Monitoring employment trends in this sector provides insights into the overall health of the Tennessee economy and its capacity for innovation and productivity growth.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this series to assess the state's economic performance and competitiveness compared to national trends.
Key Facts
- Tennessee's professional and business services sector employs over 400,000 people.
- Employment in this sector has grown by 20% over the past decade.
- The professional and business services industry accounts for nearly 15% of Tennessee's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: The 'All Employees: Professional and Business Services in Tennessee' series measures the total number of people employed in the professional and business services sector within the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the strength and growth of Tennessee's service-based economy, which is an important driver of overall economic activity and productivity in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this series to assess the state's economic performance and competitiveness compared to national trends, informing decisions on workforce development, business support, and economic growth strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a one-month lag and may be subject to revisions as more information becomes available.
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PPCIUB5T17TN47000A156NCEN
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Employed Persons in Tennessee
LASST470000000000005
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TNPETCOALMANQGSP
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in Tennessee (TNPBSV), retrieved from FRED.