All Employees: Personal and Laundry Services in Massachusetts
SMU25000008081200001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43.20
Year-over-Year Change
12.21%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Personal and Laundry Services in Massachusetts' trend measures the total number of employees in the personal and laundry services industry within the state of Massachusetts. This metric is closely watched by economists and policymakers to gauge the health and activity of the personal 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
This series tracks the total number of employees across businesses providing personal care services, dry cleaning and laundry services, and other similar establishments in Massachusetts. The data is used to analyze trends in employment, consumer demand, and the broader economic conditions within the personal services industry in the state.
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 provides insight into consumer behavior and business conditions that can inform economic policy and business strategy decisions.
Key Facts
- Massachusetts has over 80,000 personal and laundry services employees.
- This industry accounts for roughly 2.5% of total employment in the state.
- Employment in this sector has grown by 12% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in personal care services, dry cleaning, laundry, and other similar establishments located in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This employment data provides insight into consumer demand and business conditions within the personal services industry, which is an important part of the Massachusetts 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 analyze this employment data to understand consumer behavior, business investment, and overall economic conditions that can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Personal and Laundry Services in Massachusetts (SMU25000008081200001A), retrieved from FRED.