All Employees: Professional, Scientific, and Technical Services in Maryland
SMU24000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
283.40
Year-over-Year Change
20.65%
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 state of Maryland. It provides insights into the size and growth of this key services sector within the state's 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 Maryland series tracks the monthly change in employment for establishments primarily engaged in professional, scientific, and technical activities. This data is used by economists and policymakers to monitor the health and competitiveness of Maryland's knowledge-based industries.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is important for understanding Maryland's economic performance and informing policy decisions related to the state's workforce development and business climate.
Key Facts
- Maryland's professional, scientific, and technical services sector employs over 300,000 workers.
- This industry accounts for nearly 12% of total employment in the state.
- Employment in this sector has grown by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the professional, scientific, and technical services industry in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the size and growth of a key services sector within Maryland's economy, which is important for understanding the state's economic performance and competitiveness.
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: This employment trend is used by economists and policymakers to inform decisions related to workforce development, business climate, and economic growth strategies in Maryland.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
Related Trends
Housing Inventory: Average Listing Price Year-Over-Year in Maryland
AVELISPRIYYMD
Construction Wages and Salaries in Maryland
MDWCON
Average Weekly Earnings of Production Employees: Manufacturing in Maryland
SMU24000003000000030A
Total Tax Exemptions for Maryland
TOTEXMMD24A647NCEN
Gross Domestic Product: Ambulatory Health Care Services (621) in Maryland
MDAMBHCNGSP
Monthly State Retail Sales: Furniture and Home Furnishings Stores in Maryland
MSRSMD442
Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Maryland (SMU24000006054000001A), retrieved from FRED.