All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Hawaii
SMU15000006054000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.00
Year-over-Year Change
-4.41%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of all employees in the professional, scientific, and technical services industry in Hawaii. It provides insights into the state's professional services sector, which is a key component of the local 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 Hawaii metric tracks employment levels in a wide range of high-skilled service industries, including legal, accounting, architecture, engineering, and R&D services. This data is used by economists and policymakers to gauge the health and growth of Hawaii's professional services industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding Hawaii's economic diversification and competitiveness in knowledge-based services.
Key Facts
- Hawaii's professional services sector accounts for over 10% of statewide employment.
- Employment in this industry has grown by 20% in the past decade.
- The professional services sector is a key driver of Hawaii's high-wage economy.
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 state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the health and growth of Hawaii's high-skilled services sector, which is an important component of the state's economy.
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: Economists and policymakers use this data to assess the competitiveness and diversification of Hawaii's economy, particularly in knowledge-based service industries.
Q: Are there update delays or limitations?
A: This data is published monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Professional, Scientific, and Technical Services in Hawaii (SMU15000006054000001), retrieved from FRED.