All Employees: Professional, Scientific, and Technical Services in Washington
SMU53000006054000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
263.30
Year-over-Year Change
53.26%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the professional, scientific, and technical services industry in Washington state. It provides insight into the health and growth of this key sector of the 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: Professional, Scientific, and Technical Services in Washington metric tracks employment levels in industries such as legal services, accounting, architecture, engineering, and scientific research. This data is used by economists and policymakers to assess economic conditions and support workforce development initiatives.
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 the state of the Washington labor market and informing economic policy decisions.
Key Facts
- This sector employs over 300,000 workers in Washington.
- Employment in professional services has grown by 20% over the past decade.
- The average wage in this industry is 50% higher than the state average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the professional, scientific, and technical services industry in Washington state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the health and growth of a key sector of the Washington economy, informing workforce and economic development initiatives.
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 and policymakers to assess labor market conditions and support workforce development in Washington state.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, All Employees: Professional, Scientific, and Technical Services in Washington (SMU53000006054000001A), retrieved from FRED.