All Employees: Legal Services in Minnesota
SMU27000006054110001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.30
Year-over-Year Change
-8.47%
Date Range
1/1/1990 - 1/1/2024
Summary
This trend measures the total number of people employed in the legal services industry in the state of Minnesota. It provides valuable insights into the economic performance and labor market conditions of this important 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 Minnesota series tracks the total number of people employed in the legal industry within the state. This data is used by economists, policymakers, and businesses to analyze trends in the legal services labor market and assess the overall economic health of the industry in Minnesota.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic trend is relevant for understanding the strength of the legal services industry and its role in Minnesota's broader economy.
Key Facts
- Minnesota has a large and influential legal services sector.
- Employment in legal services has grown steadily in recent years.
- The legal industry is a major contributor to the state's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the legal services industry within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the strength and performance of the legal services sector in Minnesota, which is a key component of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments 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 health of the legal services industry and its impact on the broader Minnesota economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be occasional delays or revisions in the reporting.
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Citation
U.S. Federal Reserve, All Employees: Legal Services in Minnesota (SMU27000006054110001A), retrieved from FRED.