All Employees: Construction: Construction of Buildings in Maryland
SMU24000002023600001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.90
Year-over-Year Change
-3.06%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic trend measures the total number of employees in the construction of buildings industry in the state of Maryland. It provides insight into the health and activity of the local construction sector, which is an important driver of economic growth.
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: Construction: Construction of Buildings in Maryland series tracks the total employment levels in the construction of residential and non-residential buildings across the state. This data is used by economists and policymakers to monitor trends in the construction industry and its contribution to the broader Maryland economy.
Methodology
The data is collected through monthly surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the state of the local real estate and construction markets, as well as informing economic and infrastructure planning decisions.
Key Facts
- Maryland construction employment accounts for over 5% of the state's total nonfarm workforce.
- The construction industry contributes over $13 billion annually to Maryland's GDP.
- Residential building construction makes up the largest share of Maryland's construction sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in the construction of residential and non-residential buildings in the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insight into the health and activity of Maryland's construction industry, which is an important driver of economic growth and development in the state.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses and 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, policymakers, and market analysts to monitor the state of the local real estate and construction markets, and to inform economic and infrastructure planning decisions.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Construction: Construction of Buildings in Maryland (SMU24000002023600001), retrieved from FRED.