Unemployment Rate - Mining, Quarrying, and Oil and Gas Extraction, Nonagricultural Private Wage and Salary Workers
LNU04032230 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.20
Year-over-Year Change
-22.22%
Date Range
1/1/2000 - 7/1/2025
Summary
Tracks unemployment specifically in the mining, quarrying, and oil and gas extraction sectors. Provides critical insight into labor market dynamics in these essential resource industries.
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 unemployment rate measures jobless workers in extractive industries, reflecting economic conditions and workforce stability in energy-related sectors.
Methodology
Data collected through monthly household surveys by the Bureau of Labor Statistics.
Historical Context
Used by policymakers and investors to assess energy sector employment trends.
Key Facts
- Reflects cyclical nature of extractive industries
- Sensitive to global energy market fluctuations
- Important indicator of resource sector economic health
FAQs
Q: How does oil price impact mining sector employment?
A: Oil price volatility directly influences employment levels in extraction industries. Lower prices typically lead to job reductions.
Q: What causes unemployment in mining and gas sectors?
A: Market demand, technological changes, and global economic conditions significantly impact employment in these industries.
Q: How often is this data updated?
A: Monthly updates provide current snapshot of sector employment trends.
Q: Why track this specific unemployment rate?
A: Provides targeted insight into critical resource extraction labor markets and economic performance.
Q: Are seasonal factors considered?
A: Raw data reflects non-seasonally adjusted employment fluctuations in the sector.
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Citation
U.S. Federal Reserve, Unemployment Rate - Mining, Quarrying, and Oil and Gas Extraction (LNU04032230), retrieved from FRED.