All Employees: Professional and Business Services in South Carolina
SCPBSV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
328.30
Year-over-Year Change
5.73%
Date Range
1/1/1990 - 6/1/2025
Summary
The 'All Employees: Professional and Business Services in South Carolina' trend measures the total number of employees in the professional and business services sector for the state of South Carolina. This metric is important for economists and policymakers to assess the strength and growth of the service-based 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 professional and business services sector includes a wide range of knowledge-intensive occupations, such as legal services, accounting, consulting, and administrative support. Tracking employment in this sector provides insight into the overall health and productivity of the state's service economy.
Methodology
This data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Monitoring employment trends in professional and business services is crucial for understanding the broader economic climate and guiding policy decisions.
Key Facts
- South Carolina's professional and business services sector accounts for over 15% of total state employment.
- Employment in this sector has grown by 20% in the past decade, outpacing overall state job growth.
- The largest sub-sectors are administrative and support services, and professional, scientific, and technical services.
FAQs
Q: What does this economic trend measure?
A: The 'All Employees: Professional and Business Services in South Carolina' trend measures the total number of people employed in the professional and business services sector within the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the health and growth of the service-based economy in South Carolina, which is a key driver of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Monitoring employment in the professional and business services sector provides insights for policymakers and economists regarding the broader economic climate and can help guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in South Carolina (SCPBSV), retrieved from FRED.