All Employees: Private Service Providing in Minnesota
SMS27000000800000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,143.60
Year-over-Year Change
1.22%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the total number of private service-providing employees in the state of Minnesota. It serves as an important indicator of the overall health and growth of the state's 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 All Employees: Private Service Providing in Minnesota metric tracks employment levels across a wide range of private service industries, including trade, transportation, utilities, information, financial activities, professional and business services, education, and healthcare. This data provides valuable insights into Minnesota's economic performance and labor market conditions.
Methodology
The data is collected through surveys of nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to gauge the strength of Minnesota's service sector and inform economic decision-making.
Key Facts
- Minnesota's private service sector accounts for over 70% of the state's total employment.
- The service-providing industry has been a key driver of economic growth in Minnesota in recent years.
- This metric is considered a leading indicator of the overall health of the Minnesota economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of private service-providing employees in the state of Minnesota, covering a wide range of industries such as trade, transportation, and healthcare.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the strength and growth of Minnesota's service-based economy, which is a critical component of the state's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this trend to gauge the health of Minnesota's service sector and inform economic decision-making.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of approximately one month.
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Citation
U.S. Federal Reserve, All Employees: Private Service Providing in Minnesota (SMS27000000800000001), retrieved from FRED.