All Employees: Professional and Business Services: Management, Scientific, and Technical Consulting Services in Maryland
SMU24000006054160001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46.70
Year-over-Year Change
-2.51%
Date Range
1/1/1990 - 7/1/2025
Summary
This trend measures the number of people employed in the management, scientific, and technical consulting services industry in Maryland. It provides insights into the economic activity and labor demand in this professional services 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 and Business Services: Management, Scientific, and Technical Consulting Services in Maryland data series tracks the total number of people employed in this specialized consulting field within the state. It is used by economists and policymakers to assess trends in professional service industry employment and economic conditions.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment metric helps inform decisions around economic development, workforce planning, and industry regulation.
Key Facts
- Maryland has over 100,000 workers in management, scientific, and technical consulting services.
- This industry accounts for about 4% of total employment in the state.
- Consulting services employment has grown by over 20% in Maryland since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the management, scientific, and technical consulting services industry within the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides insights into the economic health and labor demand for professional services in Maryland, which is valuable information for policymakers, businesses, and labor market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend helps inform decisions around economic development, workforce planning, and industry regulation in Maryland.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions based on updated survey information.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Management, Scientific, and Technical Consulting Services in Maryland (SMU24000006054160001), retrieved from FRED.