All Employees: Mining and Logging in Rhode Island
SMU44000001000000001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
0.00%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures employment in the mining and logging industries in Rhode Island. It provides insight into the labor market conditions and economic activity in this sector, which is an important component of the state's economy.
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: Mining and Logging in Rhode Island series tracks the number of people employed in the mining and logging industries within the state. This data point is a key indicator of economic performance and can inform policy decisions related to workforce development, infrastructure investment, and natural resource management.
Methodology
The data is collected through monthly surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health of Rhode Island's extractive industries and their contribution to the overall state economy.
Key Facts
- Mining and logging account for less than 1% of total employment in Rhode Island.
- Employment in this sector has declined by 20% over the past decade.
- The COVID-19 pandemic led to a sharp drop in mining and logging jobs in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the mining and logging industries within the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the performance and contribution of Rhode Island's extractive industries to the overall state economy, which can inform policy decisions and investment strategies.
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: Policymakers and analysts use this trend to assess the health of Rhode Island's mining and logging sectors and their impact on the state's economic growth and employment.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical lag of one to two months, and may be subject to revisions over time.
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Citation
U.S. Federal Reserve, All Employees: Mining and Logging in Rhode Island (SMU44000001000000001A), retrieved from FRED.