Employment for Construction: Residential Building Construction (NAICS 23611) in the United States
Percent Change from Year Ago
IPUDN23611W201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.90
Year-over-Year Change
280.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend measures the year-over-year change in a specific economic indicator, providing insights into the pace of economic growth or decline.
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 metric compares the current value of an economic indicator to its value from the same period one year prior, expressed as a percentage change. It is a valuable tool for economists and policymakers to analyze trends and identify economic turning points.
Methodology
The data is calculated by the U.S. Federal Reserve based on official government and industry statistics.
Historical Context
Policymakers and market analysts closely monitor year-over-year changes to guide decisions and forecast future economic conditions.
Key Facts
- The metric can signal accelerating or decelerating economic activity.
- Year-over-year comparisons help smooth out seasonal fluctuations.
- Percent change from a year ago is a widely used barometer of economic performance.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' trend measures the year-over-year change in a specific economic indicator, such as industrial production or consumer prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the pace of economic growth or decline, helping economists and policymakers analyze trends and identify turning points in the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on official government and industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor year-over-year changes to guide decisions and forecast future economic conditions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly or quarterly basis, with some potential for update delays depending on the underlying source data.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUDN23611W201000000), retrieved from FRED.