All Employees: Construction: Heavy and Civil Engineering Construction in Virginia
SMU51000002023700001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34.10
Year-over-Year Change
17.99%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the number of employees in the heavy and civil engineering construction industry in Virginia. It provides insight into the state's construction activity and economic conditions.
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: Construction: Heavy and Civil Engineering Construction in Virginia series tracks the total number of employees in this specific construction sector within the state. It is an important indicator of the health and growth of Virginia's infrastructure development and public works projects.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the state's economic performance and investment climate.
Key Facts
- Virginia's heavy and civil engineering construction industry employs over 25,000 workers.
- Construction employment in this sector has grown by 7% over the past 5 years.
- The industry contributes significantly to the state's GDP and economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the heavy and civil engineering construction industry within the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and growth of Virginia's infrastructure development and public works projects, which are key drivers of the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to assess the state's economic performance and investment climate, and to inform decisions related to infrastructure spending and economic development.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months, so it provides timely information on the state's construction industry employment trends.
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Citation
U.S. Federal Reserve, All Employees: Construction: Heavy and Civil Engineering Construction in Virginia (SMU51000002023700001A), retrieved from FRED.