All Employees: Private Service Providing in Minnesota
SMU27000000800000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,163.50
Year-over-Year Change
1.13%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend tracks the total number of private service-providing employees in Minnesota. It's a key indicator of the state's economic health and service-sector labor market conditions.
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: Private Service Providing in Minnesota series measures the total number of workers employed in the state's private service-providing industries, which include trade, transportation, utilities, information, financial activities, professional and business services, education, health care, leisure, and hospitality.
Methodology
The data is collected through monthly surveys of Minnesota employers by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is widely used by policymakers, analysts, and businesses to assess service-sector labor market trends and the overall performance of Minnesota's economy.
Key Facts
- Minnesota's private service-providing sector accounts for over 70% of total nonfarm employment.
- Service-providing jobs have grown faster than goods-producing jobs in Minnesota over the past decade.
- The COVID-19 pandemic caused significant disruptions to Minnesota's service-providing industries in 2020.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of employees working in Minnesota's private service-providing industries, which include sectors like trade, transportation, information, and health care.
Q: Why is this trend relevant for users or analysts?
A: The private service-providing sector is a crucial driver of Minnesota's economy, so this metric provides important insights into overall labor market conditions and economic performance in the state.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of Minnesota employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor this indicator to assess the health of Minnesota's service-sector labor market and make informed decisions about economic and workforce policies.
Q: Are there update delays or limitations?
A: The private service-providing employment data for Minnesota is published monthly with a short lag, typically 4-6 weeks after the end of the reference period.
Similar SMU Trends
Real Gross Domestic Product: Publishing Industries (Except Internet) (511) in Minnesota
MNPUBINDRGSP
Housing Inventory: Price Increased Count Year-Over-Year in Minnesota
PRIINCCOUYYMN
All Employees: Transportation and Utilities: Couriers and Messengers in Minnesota
SMU27000004349200001SA
Real Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Minnesota
MNNDURMANRGSP
All Employees: Local Government in Minnesota
SMU27000009093000001A
Chain-Type Quantity Index for Real GDP: Machinery Manufacturing (333) in Minnesota
MNMACHMANQGSP
Citation
U.S. Federal Reserve, All Employees: Private Service Providing in Minnesota (SMU27000000800000001), retrieved from FRED.