Monthly, Seasonally Adjusted
SMU53000004245200001SA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.35
Year-over-Year Change
-5.83%
Date Range
1/1/1990 - 12/1/2022
Summary
This series measures monthly, seasonally adjusted employment in the Professional and Business Services sector in the U.S. It is a key economic indicator for analyzing the health and trends of the labor market.
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 Monthly, Seasonally Adjusted employment series for the Professional and Business Services sector tracks the number of people employed in a variety of professional occupations, including accounting, management, engineering, and other technical services. This metric provides insight into the overall strength of the economy and labor demand.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts closely monitor this employment trend to gauge the broader economic climate and inform decisions around monetary and fiscal policy.
Key Facts
- The Professional and Business Services sector accounts for over 20% of total U.S. employment.
- Employment in this sector has grown steadily over the past decade, outpacing overall job growth.
- Trends in professional services hiring are viewed as a leading indicator of broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This series tracks monthly, seasonally adjusted employment in the Professional and Business Services sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: Employment in the professional services industry is a key indicator of broader economic health and labor market strength, providing insights that inform policy decisions and market analysis.
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: Policymakers and analysts closely monitor this employment trend to gauge the broader economic climate and inform decisions around monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release lag of approximately 4-5 weeks.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SMU53000004245200001SA), retrieved from FRED.