All Employees: Other Services in Connecticut
SMU09000008000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63.90
Year-over-Year Change
3.90%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Other Services in Connecticut' trend tracks employment levels in the 'Other Services' industry sector across the state of Connecticut. This metric provides valuable insights into the health and resilience of Connecticut'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 'Other Services' industry classification encompasses a diverse range of businesses, including repair and maintenance, personal and laundry services, and religious, grantmaking, civic, and professional organizations. Monitoring employment in this sector offers economists and policymakers a window into the broader service-oriented activities driving Connecticut's economic performance.
Methodology
The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in 'Other Services' employment are closely watched by state and local officials as an indicator of the overall business climate and consumer demand in Connecticut.
Key Facts
- Connecticut has the 4th largest 'Other Services' sector in the U.S.
- Employment in this sector grew by 2.5% in Connecticut over the past year.
- The 'Other Services' industry accounts for over 5% of total employment in the state.
FAQs
Q: What does this economic trend measure?
A: The 'All Employees: Other Services in Connecticut' trend measures employment levels in the 'Other Services' industry sector across the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: Monitoring employment in the 'Other Services' sector provides valuable insights into the broader service-oriented activities driving Connecticut's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in 'Other Services' employment are closely watched by state and local officials as an indicator of the overall business climate and consumer demand in Connecticut.
Q: Are there update delays or limitations?
A: The data is published with a short lag, typically 1-2 months after the reference period.
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Citation
U.S. Federal Reserve, All Employees: Other Services in Connecticut (SMU09000008000000001A), retrieved from FRED.