All Employees: Legal Services in Massachusetts
SMU25000006054110001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.80
Year-over-Year Change
0.35%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the total number of employees in the legal services industry in Massachusetts. It provides important insights into the size and health of the state's legal 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: Legal Services in Massachusetts series measures the total number of people employed in the legal services industry across the state. This data is used by economists and policymakers to analyze trends in the legal services labor market and assess the broader economic conditions in Massachusetts.
Methodology
The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in legal services employment can reflect broader economic and regulatory changes that impact demand for legal services.
Key Facts
- Massachusetts has the 3rd largest legal services industry in the U.S.
- Legal services employment in Massachusetts has grown by 12% since 2010.
- The legal services sector accounts for over 2% of total employment in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the legal services industry across the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: Trends in legal services employment provide insights into the health and growth of a key professional services sector in the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess the state of the legal services labor market and its broader economic implications for Massachusetts.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to minor revisions over time.
Related Trends
Proprietors' Nonfarm Income in Massachusetts
MAONON
Average Weekly Hours of All Employees: Leisure and Hospitality in Massachusetts
SMU25000007000000002A
Real Gross Domestic Product: Accommodation and Food Services (72) in Massachusetts
MAACCFDRGSP
Chain-Type Quantity Index for Real GDP: Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523) in Massachusetts
MASECCOMINVQGSP
Transportation Carbon Dioxide Emissions, Motor Gasoline for Massachusetts
EMISSCO2VMGACBMAA
All Employees: Health Care: Hospitals in Massachusetts
SMU25000006562200001A
Citation
U.S. Federal Reserve, All Employees: Legal Services in Massachusetts (SMU25000006054110001A), retrieved from FRED.