All Employees: Service-Providing in Maine
SMU23000000700000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
585.40
Year-over-Year Change
-0.09%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the total number of service-providing employees in the state of Maine. It is an important indicator of the health and composition of Maine's labor market and broader economic activity.
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: Service-Providing in Maine series tracks the total number of workers employed in the service-providing sector within the state. This includes industries such as trade, transportation, utilities, information, financial activities, professional and business services, education, health care, leisure and hospitality, and other services.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is closely monitored by policymakers, economists, and businesses to assess the strength and dynamics of Maine's service-oriented economy.
Key Facts
- Maine's service sector accounts for over 80% of total employment.
- Service-providing jobs in Maine have grown by 10% over the past decade.
- The leisure and hospitality industry is the largest service sector employer in Maine.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the service-providing industries in the state of Maine, including sectors like trade, transportation, healthcare, and hospitality.
Q: Why is this trend relevant for users or analysts?
A: The service sector is a critical component of Maine's economy, and tracking employment in this area provides valuable insights into the state's overall economic health and performance.
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, economists, and businesses closely monitor this indicator to assess the strength and dynamics of Maine's service-oriented economy and inform economic policies and business decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a short delay, providing timely information on the state's service sector employment trends.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Maine (SMU23000000700000001), retrieved from FRED.