All Employees: Service-Providing in Massachusetts
SMU25000000700000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,362.20
Year-over-Year Change
0.41%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the total number of service-providing employees in Massachusetts, a key indicator of the state's economic activity and labor market performance.
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 Massachusetts series tracks the total employment in service-providing industries within the state, including sectors like trade, transportation, utilities, information, financial activities, professional and business services, education, health care, and leisure and hospitality.
Methodology
The data is collected through monthly surveys of Massachusetts employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by policymakers, economists, and market analysts to gauge the health and trajectory of the state's service-based economy.
Key Facts
- Massachusetts has the 5th largest service sector economy in the U.S.
- Service-providing jobs account for over 85% of total employment in the state.
- The service sector has been a key driver of economic growth in Massachusetts in recent decades.
FAQs
Q: What does this economic trend measure?
A: The All Employees: Service-Providing in Massachusetts series tracks the total number of employees in service-providing industries within the state, providing insights into the health of the state's service-based economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important indicator of economic activity and labor market performance in Massachusetts, helping policymakers, economists, and market analysts assess the state's economic trajectory.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of Massachusetts employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to gauge the health and performance of Massachusetts' service-based economy, which is a key driver of the state's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Massachusetts (SMU25000000700000001), retrieved from FRED.