Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Oregon
Annual, Not Seasonally Adjusted
ORMINNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
405.20
Year-over-Year Change
101.79%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Annual, Not Seasonally Adjusted' trend measures the annual number of mining and logging jobs in the United States. This key economic indicator provides insights into the strength and growth of the mining and natural resource extraction 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
The 'Annual, Not Seasonally Adjusted' metric tracks the total employment in the mining and logging sectors, including jobs in oil and gas extraction, coal mining, and other natural resource industries. This data is used by economists and policymakers to analyze industry trends and the broader state of the U.S. economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Historical Context
This employment trend is closely monitored by industry analysts, investors, and government agencies to gauge the health and direction of the mining and natural resource sectors.
Key Facts
- The mining and logging sector employs over 600,000 workers in the U.S.
- Employment in this sector declined by 18% during the COVID-19 pandemic.
- Mining and logging jobs are concentrated in states like Texas, California, and Wyoming.
FAQs
Q: What does this economic trend measure?
A: The 'Annual, Not Seasonally Adjusted' trend measures the total number of jobs in the mining and logging sectors of the U.S. economy, including oil, gas, coal, and other natural resource extraction industries.
Q: Why is this trend relevant for users or analysts?
A: This employment metric provides valuable insights into the strength and direction of the mining and natural resource industries, which are critical components of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Current Employment Statistics survey.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this employment trend to gauge the health of the mining and natural resource sectors, which have significant implications for energy policy, economic growth, and workforce development.
Q: Are there update delays or limitations?
A: The 'Annual, Not Seasonally Adjusted' data is published on a monthly basis with a typical 1-2 month delay, providing a timely snapshot of employment in the mining and logging industries.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (ORMINNGSP), retrieved from FRED.