All Employees: Architectural, Engineering, and Related Services in Minnesota
SMU27000006054130001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26.10
Year-over-Year Change
41.85%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in architectural, engineering, and related services industries in the state of Minnesota. It provides insight into the strength and growth of this key professional 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
The All Employees: Architectural, Engineering, and Related Services in Minnesota metric tracks the total employment across a range of professional services industries, including architectural design, engineering consulting, and scientific research and development. This data is used by economists and policymakers to assess the health and momentum of Minnesota's knowledge-based economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for understanding broader economic conditions and the demand for specialized professional services in Minnesota.
Key Facts
- Minnesota has over 100,000 employees in architectural, engineering, and related services.
- This sector accounts for around 3% of total employment in the state.
- Employment in this industry has grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in architectural, engineering, and related professional services industries across the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the health and growth of a key knowledge-based sector of the Minnesota economy, which is important for understanding broader economic conditions and policy implications.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is relevant for policymakers, economists, and industry analysts seeking to understand labor market dynamics and the demand for professional services in Minnesota.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, All Employees: Architectural, Engineering, and Related Services in Minnesota (SMU27000006054130001A), retrieved from FRED.