Employment for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
IPUBN2111W200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.20
Year-over-Year Change
-35.53%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures employment in the oil and gas extraction industry, a key part of the United States mining sector. It provides insights into the labor dynamics of a critical energy 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 Mining: Oil and Gas Extraction (NAICS 2111) in the United States trend tracks the number of workers employed in the oil and gas extraction industry, a subsector of the broader mining industry. This data point is closely watched by economists and policymakers as it reflects the health and activity levels of a vital energy sector.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used to assess the state of the energy market and inform economic and energy policy decisions.
Key Facts
- Oil and gas extraction is a subsector of the broader mining industry.
- Employment in this sector reflects the health of the energy market.
- The data is collected through the Current Employment Statistics (CES) survey.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of people employed in the oil and gas extraction industry, which is a subsector of the broader mining industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This employment trend is closely watched by economists and policymakers as it provides insights into the health and activity levels of a critical energy sector.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is used to assess the state of the energy market and inform economic and energy policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the regular update schedule and potential limitations of the Current Employment Statistics (CES) survey.
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Citation
U.S. Federal Reserve, Employment for Mining: Oil and Gas Extraction (NAICS 2111) in the United States (IPUBN2111W200000000), retrieved from FRED.