All Employees: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Connecticut
SMU09000006054120001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.60
Year-over-Year Change
7.07%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the accounting, tax preparation, bookkeeping, and payroll services industry in Connecticut. It provides important insights into the health and growth of this key service sector.
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: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Connecticut metric tracks the total employment levels in this professional services industry across the state. It is a useful indicator of economic activity and business demand for these critical back-office functions.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by economists, policymakers, and industry analysts to gauge the strength of Connecticut's professional services sector.
Key Facts
- Connecticut has over 60,000 people employed in accounting and related services.
- This industry accounts for nearly 4% of the state's total nonfarm employment.
- Employment in this sector has grown by over 10% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the accounting, tax preparation, bookkeeping, and payroll services industry across the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and growth of a key professional services sector in the Connecticut economy.
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 closely monitored by economists, policymakers, and industry analysts to gauge the strength of Connecticut's professional services sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month reporting lag.
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Citation
U.S. Federal Reserve, All Employees: Accounting, Tax Preparation, Bookkeeping, and Payroll Services in Connecticut (SMU09000006054120001A), retrieved from FRED.