Employment for Construction: Other Specialty Trade Contractors (NAICS 2389) in the United States
IPUDN2389W200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,121.90
Year-over-Year Change
31.91%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures employment levels in the 'Other Specialty Trade Contractors' industry, a key construction sector. It provides insight into the overall health and labor dynamics of the construction industry.
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: Other Specialty Trade Contractors (NAICS 2389)' data series tracks the number of people employed in this specialized construction field, which includes activities like building equipment installation, site preparation, and specialty trade contractors. This metric is used by economists and policymakers to gauge construction industry activity and labor market trends.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
This employment trend is relevant for analyzing construction industry conditions and their broader macroeconomic implications.
Key Facts
- Construction is a key driver of economic growth.
- The 'Other Specialty Trade Contractors' industry includes diverse trades like electrical, plumbing, and HVAC work.
- Employment levels in this sector are closely watched for signals about the broader construction industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures employment levels in the 'Other Specialty Trade Contractors' industry, which is a crucial part of the broader construction sector.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides insight into the health and labor dynamics of the construction industry, which is a significant driver of economic growth.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: This construction employment trend is closely monitored by economists and policymakers to assess broader market and industry conditions.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential revisions of the Current Employment Statistics program.
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Citation
U.S. Federal Reserve, Employment for Construction: Other Specialty Trade Contractors (NAICS 2389) in the United States (IPUDN2389W200000000), retrieved from FRED.