All Employees: Other Services in Virginia
SMU51000008000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
204.40
Year-over-Year Change
7.41%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Other Services in Virginia' trend measures the total number of employees in the 'Other Services' industry sector in the state of Virginia. This data provides insight into the overall economic activity and labor market conditions in Virginia's service-providing industries.
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 'Other Services' industry sector includes establishments engaged in activities such as equipment and machinery repair, personal care services, religious organizations, and various professional and civic associations. This employment data is a key indicator of economic health and consumer demand in Virginia.
Methodology
The data is collected through monthly surveys of nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the strength of Virginia's service-oriented economy and make informed decisions about economic and workforce development initiatives.
Key Facts
- Virginia's 'Other Services' sector employs over 240,000 workers.
- Employment in this sector has grown by 8% over the past 5 years.
- The 'Other Services' industry accounts for 7% of Virginia's total nonfarm employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the 'Other Services' industry sector within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the overall economic health and labor market conditions in Virginia's service-providing industries, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of nonfarm business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the strength of Virginia's service-oriented economy and make informed decisions about economic and workforce development initiatives.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have a delay of several weeks between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, All Employees: Other Services in Virginia (SMU51000008000000001A), retrieved from FRED.