All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Washington
SMS53000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
265.10
Year-over-Year Change
0.30%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures employment in the professional, scientific, and technical services sector in Washington. It provides insights into the health and growth of a key component of the state's 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 Washington metric tracks the number of people employed in fields like legal services, accounting, architecture, engineering, and scientific research. This data is used by economists and policymakers to assess economic activity and labor market conditions in the state.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for understanding Washington's economic performance and informing policy decisions.
Key Facts
- Washington's professional services sector employs over 400,000 people.
- Employment in this sector has grown by over 20% in the past decade.
- Professional services account for nearly 15% of total employment in Washington.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in the professional, scientific, and technical services sector in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the health and growth of a key component of Washington's economy, which is important for understanding the state's overall economic performance and informing policy decisions.
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: This employment trend is relevant for policymakers and economists in Washington who use it to assess economic activity and labor market conditions in the state.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological limitations of the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Washington (SMS53000006054000001), retrieved from FRED.