All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Arizona
SMS04000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
169.20
Year-over-Year Change
-3.48%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the number of all employees in the professional, scientific, and technical services industry in Arizona. It provides valuable insights into the state's professional services sector and its contribution to the overall 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 and Business Services: Professional, Scientific, and Technical Services in Arizona trend tracks the total number of people employed in a range of professional occupations, including legal, accounting, architectural, engineering, and scientific research services. This data is closely monitored by economists and policymakers to gauge the health and growth of Arizona's knowledge-based economy.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is widely used by analysts and policymakers to assess the performance and outlook of Arizona's professional services industry, which is a key driver of economic activity and innovation in the state.
Key Facts
- Arizona's professional services sector employs over 300,000 people.
- This industry has seen steady growth in recent years, outpacing the overall state economy.
- The professional services sector accounts for nearly 10% of Arizona's total non-farm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the professional, scientific, and technical services industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: The professional services sector is a key driver of economic activity and innovation in Arizona, and this trend provides valuable insights into the health and growth of this important industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by analysts and policymakers to assess the performance and outlook of Arizona's professional services industry, which is a crucial component of the state's overall economic strategy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, but it provides a comprehensive and reliable picture of employment in Arizona's professional services sector.
Similar SMS Trends
Real Gross Domestic Product: Performing Arts, Spectator Sports, Museums, and Related Activities (711-712) in Arizona
AZPRFRMSPRTMSMRGSP
All Employees: Goods Producing in Arizona
SMS04000000600000001
Projected Business Formations Within Four Quarters: Total for All NAICS in Arizona
BFPBF4QTOTALSAAZ
Number of Civilians Unemployed for 15 Weeks or Longer for Arizona
UNEMP15AZ
Gross Domestic Product: Other Transportation Equipment Manufacturing (3364-3466, 3369) in Arizona
AZOTRANEQMANNGSP
Real Gross Domestic Product: Construction (23) in Arizona
AZCONSTRGSP
Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Arizona (SMS04000006054000001), retrieved from FRED.