All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Rhode Island
SMS44000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.70
Year-over-Year Change
5.14%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of employees in the professional, scientific, and technical services industry in Rhode Island. It is an important indicator of the state's knowledge-based economy and business activity.
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 Rhode Island metric tracks employment levels in a critical sector that includes legal, accounting, engineering, and other high-skilled services. It provides insight into the vitality of Rhode Island's professional services industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used by policymakers, economists, and businesses to assess the strength of Rhode Island's professional services sector and broader economic conditions.
Key Facts
- Rhode Island has over 50,000 professional services employees.
- The professional services sector accounts for 15% of Rhode Island's total employment.
- Employment in this industry has grown by 8% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of people employed in the professional, scientific, and technical services industry in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This employment trend provides insight into the strength and growth of Rhode Island's knowledge-based economy, 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 surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess the vitality of Rhode Island's professional services sector and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Rhode Island (SMS44000006054000001), retrieved from FRED.