All Employees: Professional and Business Services in Utah
SMU49000006000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
247.50
Year-over-Year Change
46.97%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Professional and Business Services in Utah' metric tracks employment levels in the professional and business services sector in Utah. This data provides insights into the strength and growth of a key part 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
This series represents the total number of employees working in the professional and business services industry in Utah. It is a key indicator of economic activity and growth, as the professional and business services sector encompasses a wide range of high-skilled occupations that drive innovation and productivity.
Methodology
The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the health and trajectory of Utah's economy and labor market.
Key Facts
- Utah's professional and business services sector employs over 280,000 workers.
- This industry accounts for nearly 20% of total employment in the state.
- Employment in this sector has grown by over 30% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of employees working in the professional and business services industry in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: The professional and business services sector is a key driver of economic growth and innovation, so this data provides important insights into the strength and trajectory of Utah's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Utah's labor market and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around one month.
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Citation
U.S. Federal Reserve, All Employees: Professional and Business Services in Utah (SMU49000006000000001A), retrieved from FRED.