All Employees: Professional and Business Services: Business Support Services in Pennsylvania
SMU42000006056140001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.23
Year-over-Year Change
-1.67%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the number of employees in the business support services industry in Pennsylvania. It provides insights into the state's professional and business services sector, a key indicator of economic activity.
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: Professional and Business Services: Business Support Services in Pennsylvania metric tracks the employment levels in establishments that provide a range of day-to-day office administrative services, such as billing, record-keeping, and personnel support. This data is used by economists and policymakers to assess the health and growth of Pennsylvania's service-providing industries.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding Pennsylvania's labor market conditions and the broader economic performance of the state.
Key Facts
- Pennsylvania's business support services industry employs over 100,000 workers.
- Employment in this sector has grown by 10% over the past 5 years.
- Business support services account for approximately 2% of Pennsylvania's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of employees in the business support services industry in Pennsylvania, which includes establishments that provide administrative and clerical services to other businesses.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and growth of Pennsylvania's professional and business services sector, which is an important part of the state's economy. It can be used by economists and policymakers to assess labor market conditions and economic performance.
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 trend is used by economists, policymakers, and market analysts to monitor the performance of Pennsylvania's service-providing industries and make informed decisions about economic policy and investments.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the Bureau of Labor Statistics, and there may be lags in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services: Business Support Services in Pennsylvania (SMU42000006056140001SA), retrieved from FRED.