All Employees: Construction: Specialty Trade Contractors in Washington
This dataset tracks all employees: construction: specialty trade contractors in washington over time.
Latest Value
144.10
Year-over-Year Change
64.69%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Construction: Specialty Trade Contractors in Washington' trend measures employment levels in the specialty trade contractor industry in the state of Washington. This metric is a key indicator of economic activity and investment in the construction 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
This series tracks the total number of employees in specialty trade contractor businesses, such as electrical, plumbing, and HVAC contractors, across Washington state. It provides insight into the health and labor demand of the local construction industry, which is a significant driver of economic growth.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess the strength of the regional construction market and make informed decisions about infrastructure investment and economic development.
Key Facts
- Washington's specialty trade contractors employ over 130,000 workers.
- This sector has seen steady job growth of around 3% annually since 2015.
- Electrical and plumbing contractors make up the largest shares of specialty trade employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working for specialty trade contractors, such as electrical, plumbing, and HVAC companies, in the state of Washington.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the strength and labor demand of the local construction industry, which is a key driver of economic growth and development in Washington.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this employment data to assess the health of the regional construction market and make informed decisions about infrastructure investment and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a one-month lag, so the most recent figures may not reflect the very latest employment levels in this sector.
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Citation
U.S. Federal Reserve, All Employees: Construction: Specialty Trade Contractors in Washington (SMU53000002023800001A), retrieved from FRED.