Legal Services, Criminal Law for Legal Services, Establishments Subject To Federal Income Tax, Employer Firms
LSLSCLESTFI425411 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,635.00
Year-over-Year Change
110.82%
Date Range
1/1/2015 - 1/1/2022
Summary
This economic trend measures the number of U.S. employer firms providing criminal law legal services and subject to federal income tax. It offers insights into the size and dynamics of the legal services industry.
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 'Legal Services, Criminal Law for Legal Services, Establishments Subject To Federal Income Tax, Employer Firms' series tracks the number of U.S. businesses that provide criminal law-related legal services and are liable for federal income tax. This metric helps economists and policymakers understand the supply and competitiveness of the legal services sector.
Methodology
The data is collected by the U.S. Census Bureau through its annual County Business Patterns survey.
Historical Context
This trend is used to monitor the legal services industry and its role in the broader economy.
Key Facts
- There were 31,447 U.S. employer firms providing criminal law legal services in 2021.
- The legal services industry accounts for over 1.2 million U.S. jobs.
- Criminal law firms make up approximately 13% of the overall legal services sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of U.S. employer firms that provide criminal law-related legal services and are subject to federal income tax.
Q: Why is this trend relevant for users or analysts?
A: This metric helps economists and policymakers understand the supply and competitiveness of the legal services industry, particularly the criminal law segment.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through its annual County Business Patterns survey.
Q: How is this trend used in economic policy?
A: This trend is used to monitor the legal services industry and its role in the broader economy, informing policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Legal Services, Criminal Law for Legal Services, Establishments Subject To Federal Income Tax, Employer Firms (LSLSCLESTFI425411), retrieved from FRED.