Employment for Mining: Oil and Gas Extraction (NAICS 211) in the United States
IPUBN211W200000000 • 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 indicator of economic activity in the energy sector.
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 trend provides a snapshot of labor demand and utilization in a critical industry that drives broader economic performance. It is closely monitored by policymakers, analysts, and market participants.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses.
Historical Context
This metric helps inform assessments of energy industry conditions and broader macroeconomic trends.
Key Facts
- The oil and gas extraction industry employs over 140,000 workers in the U.S.
- Employment in this sector declined sharply during the COVID-19 pandemic but has since rebounded.
- Changes in oil and gas employment can signal shifts in energy market conditions and investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures employment levels in the oil and gas extraction industry, which is a key part of the broader mining and energy sector.
Q: Why is this trend relevant for users or analysts?
A: Employment in oil and gas extraction is an important indicator of activity and investment in the energy industry, which has significant implications for the broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through monthly surveys of businesses in the oil and gas extraction industry.
Q: How is this trend used in economic policy?
A: This metric helps inform assessments of energy industry conditions and can contribute to policymakers' understanding of macroeconomic trends and the state of the labor market.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. It may not capture all employment in the industry, as some workers are self-employed or in small establishments.
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Citation
U.S. Federal Reserve, Employment for Mining: Oil and Gas Extraction (NAICS 211) in the United States (IPUBN211W200000000), retrieved from FRED.