All Employees: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Alabama
SMU01000003133500001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.60
Year-over-Year Change
29.41%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the electrical equipment, appliance, and component manufacturing industry in Alabama. It provides insight into the state's durable goods manufacturing sector and broader 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: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Alabama metric tracks the employment levels in this specific manufacturing subsector, which produces a range of electrical and electronic products. This data point is useful for analyzing industrial activity, labor market trends, and the overall health of Alabama's economy.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the performance of Alabama's manufacturing base and its implications for the state's economic development.
Key Facts
- Alabama's electrical equipment manufacturing employs over 10,000 workers.
- This industry accounts for 5% of the state's total durable goods manufacturing jobs.
- Employment in this sector has grown by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of employees in the electrical equipment, appliance, and component manufacturing industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the performance and labor market conditions of a key manufacturing subsector in Alabama, which is useful for evaluating the state's economic development and industrial activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and competitiveness of Alabama's manufacturing base, which informs economic development strategies and workforce policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical one-month lag between the reference period and the release date.
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Citation
U.S. Federal Reserve, All Employees: Durable Goods: Electrical Equipment, Appliance, and Component Manufacturing in Alabama (SMU01000003133500001A), retrieved from FRED.