All Employees: Services to Buildings and Dwellings in Massachusetts
SMU25000006056170001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.30
Year-over-Year Change
22.85%
Date Range
1/1/1990 - 1/1/2024
Summary
This trend measures the total employment in the services to buildings and dwellings industry in Massachusetts. It provides insight into the state's commercial and residential real estate sectors.
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: Services to Buildings and Dwellings in Massachusetts metric tracks the number of people employed in the building services industry, including janitorial, landscaping, and other facility support roles. It is a key indicator of economic activity and labor market conditions in the real estate sector.
Methodology
This data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this trend to assess the health of the commercial and residential real estate markets.
Key Facts
- Massachusetts has the 6th largest services to buildings and dwellings industry in the U.S.
- Employment in this sector grew by 8.3% in Massachusetts from 2017 to 2022.
- The services to buildings and dwellings industry accounts for over 3% of total employment in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total employment in the services to buildings and dwellings industry in Massachusetts, which includes jobs like janitorial, landscaping, and other facility support roles.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health of the commercial and residential real estate sectors in Massachusetts, which are important drivers of the state's economy.
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 and economists monitor this trend to assess the strength of the real estate market and make informed decisions about economic policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, All Employees: Services to Buildings and Dwellings in Massachusetts (SMU25000006056170001A), retrieved from FRED.