All Employees: Repair and Maintenance in Minnesota
SMU27000008081100001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.20
Year-over-Year Change
19.80%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the repair and maintenance industry in the state of Minnesota. It provides insight into the health and activity of this important service 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: Repair and Maintenance in Minnesota series tracks the total number of individuals employed in establishments that provide repair and maintenance services within the state. This metric is used by economists and policymakers to monitor the performance of this industry and understand broader economic conditions.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in repair and maintenance employment are closely watched as an indicator of consumer demand and business investment.
Key Facts
- Minnesota has over 40,000 repair and maintenance workers.
- This industry accounts for 2.3% of the state's total employment.
- Repair and maintenance jobs have grown 7% in Minnesota over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in repair and maintenance establishments located in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: Tracking repair and maintenance employment provides insight into consumer spending, business investment, and the overall health of Minnesota's service sector economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess consumer demand, business confidence, and the broader performance of Minnesota's service industry.
Q: Are there update delays or limitations?
A: The data is published with a 1-month lag by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, All Employees: Repair and Maintenance in Minnesota (SMU27000008081100001A), retrieved from FRED.