All Employees: Professional, Scientific, and Technical Services in Delaware
SMU10000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.50
Year-over-Year Change
14.46%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend tracks total employment in the professional, scientific, and technical services industry in the state of Delaware. It is a key indicator of economic activity and labor market conditions in this important 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: Professional, Scientific, and Technical Services in Delaware metric provides monthly data on the total number of employees in the professional, scientific, and technical services industry across the state. This sector includes a wide range of knowledge-intensive occupations like legal services, accounting, engineering, and computer systems design.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health and growth of Delaware's professional services industry, which is a significant contributor to the state's economy.
Key Facts
- Delaware's professional services industry accounts for over 10% of the state's total employment.
- Employment in this sector has grown by 15% in Delaware over the past 5 years.
- The COVID-19 pandemic caused a temporary decline in professional services jobs in Delaware in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the total number of people employed in the professional, scientific, and technical services industry in the state of Delaware.
Q: Why is this trend relevant for users or analysts?
A: The professional services sector is a key driver of economic activity in Delaware, so this metric provides important insights into the health and growth of this industry within the state.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the performance of Delaware's professional services industry and inform economic development strategies at the state level.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis by the U.S. Federal Reserve, with a typical 1-2 month lag in reporting.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Delaware (SMU10000006054000001A), retrieved from FRED.