All Employees: Professional, Scientific, and Technical Services in the District of Columbia
SMU11000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.50
Year-over-Year Change
15.13%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the professional, scientific, and technical services industry in the District of Columbia. It provides insight into the strength and growth of the region's knowledge-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 All Employees: Professional, Scientific, and Technical Services in the District of Columbia metric tracks the total employment levels in this high-skill, high-wage industry sector. It is a key indicator of the District's economic competitiveness and its ability to attract and retain top talent.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by policymakers, economists, and industry analysts to assess the District's economic performance and guide workforce development initiatives.
Key Facts
- The professional, scientific, and technical services industry accounts for over 20% of total employment in the District of Columbia.
- This industry sector has seen steady job growth in the District over the past decade.
- The average weekly wage in the District's professional services industry is over 50% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the professional, scientific, and technical services industry in the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides insight into the strength and competitiveness of the District's knowledge-based economy, which is a key driver of the region's overall economic performance.
Q: How is this data collected or calculated?
A: The data is collected through monthly 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 industry analysts closely monitor this employment trend to assess the District's economic competitiveness and guide workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a lag of approximately one month by the U.S. Bureau of Labor Statistics.
Related Trends
Gross Domestic Product: Accommodation (721) in the District of Columbia
DCACCOMDNGSP
Real Gross Domestic Product: Motor Vehicles, Bodies and Trailers, and Parts Manufacturing (3361-3363) in the District of Columbia
DCMVEHMANRGSP
Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in the District of Columbia
DCDURMANRGSP
Monthly State Retail Sales: Building Material and Garden Equipment and Supplies Dealers in District of Columbia
MSRSDC444
Real Gross Domestic Product: Warehousing and Storage (493) in the District of Columbia
DCWARESTORRGSP
Chain-Type Quantity Index for Real GDP: Administrative and Support and Waste Management and Remediation Services (56) in the District of Columbia
DCADMINWASTQQGSP
Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in the District of Columbia (SMU11000006054000001A), retrieved from FRED.