All Employees: Service-Providing in Utah
SMU49000000700000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,450.10
Year-over-Year Change
2.35%
Date Range
1/1/1990 - 7/1/2025
Summary
This economic trend measures the total number of service-providing employees in the state of Utah. It is an important indicator of the overall health and employment dynamics of the state's economy.
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: Service-Providing in Utah trend represents the total number of employees in the service-providing sector, which includes industries such as trade, transportation, utilities, information, financial activities, professional and business services, education, health care, leisure and hospitality, and other services. This data provides insight into the strength and composition of Utah's labor market.
Methodology
The data is collected through a monthly survey of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic trend is closely monitored by policymakers, economists, and businesses to assess the performance and direction of Utah's service-providing industries.
Key Facts
- Utah's service-providing sector accounts for over 80% of total nonfarm employment.
- The service-providing industries have been a key driver of Utah's economic growth in recent years.
- Utah has consistently ranked among the top states for employment growth in the service sector.
FAQs
Q: What does this economic trend measure?
A: The All Employees: Service-Providing in Utah trend measures the total number of employees in the service-providing sector of Utah's economy, which includes a wide range of industries such as trade, transportation, and healthcare.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the overall health and employment dynamics of Utah's economy, as the service-providing sector is a dominant part of the state's labor market. It provides insights that are valuable for policymakers, economists, and businesses monitoring economic performance.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of business establishments 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 trend to assess the performance and direction of Utah's service-providing industries, which are critical to the state's overall economic growth and development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of one to two months from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Service-Providing in Utah (SMU49000000700000001), retrieved from FRED.