Employment for Construction: Nonresidential Building Construction (NAICS 2362) in the United States
IPUDN2362W200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
969.60
Year-over-Year Change
35.74%
Date Range
1/1/1987 - 1/1/2024
Summary
This trend measures employment in the nonresidential building construction industry in the United States. It is a key indicator of economic activity and investment in the commercial real estate sector.
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 Employment for Construction: Nonresidential Building Construction (NAICS 2362) in the United States series tracks the number of people employed in the construction of commercial, industrial, and institutional buildings. This metric provides insight into the strength and trajectory of the commercial real estate market.
Methodology
The data is collected through monthly surveys of construction businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists, policymakers, and real estate investors to gauge the health of the broader economy and commercial construction activity.
Key Facts
- The nonresidential building construction industry employs over 1 million workers in the U.S.
- Nonresidential construction activity accounts for about one-third of total construction spending.
- Employment in this sector tends to lead overall economic growth and can signal future commercial real estate investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in the construction of commercial, industrial, and institutional buildings in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and trajectory of the commercial real estate market, which is a key indicator of broader economic activity and investment.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of construction businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists, policymakers, and real estate investors to gauge the health of the broader economy and commercial construction activity.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Employment for Construction: Nonresidential Building Construction (NAICS 2362) in the United States (IPUDN2362W200000000), retrieved from FRED.