Expenses for Testing Laboratories, All Establishments, Employer Firms
TLEAEEF354138 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,618.00
Year-over-Year Change
77.59%
Date Range
1/1/2003 - 1/1/2022
Summary
This economic trend measures the expenses incurred by testing laboratories across all U.S. employer firms. It provides insights into the operational costs and activity levels of this important 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 Expenses for Testing Laboratories, All Establishments, Employer Firms indicator tracks the total expenses reported by testing laboratories, including costs for personnel, equipment, facilities, and other operational expenditures. This metric is useful for analyzing the financial health and growth trends within the broader testing and laboratory services sector.
Methodology
The data is collected through surveys of U.S. employer establishments by the U.S. Census Bureau.
Historical Context
This economic indicator is closely monitored by policymakers, market analysts, and industry stakeholders to gauge the operational dynamics and investment trends in the testing laboratory services market.
Key Facts
- Testing laboratories are a critical part of the U.S. economy, supporting quality control, R&D, and regulatory compliance.
- Expenses for testing labs have grown steadily over the past decade, reflecting increased demand for their services.
- The testing lab industry employs over 300,000 workers across the United States.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total expenses incurred by testing laboratories across all U.S. employer firms, including costs for personnel, equipment, facilities, and other operational expenditures.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial health, growth, and investment trends within the broader testing and laboratory services sector, which is an important part of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. employer establishments conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by policymakers, market analysts, and industry stakeholders to gauge the operational dynamics and investment trends in the testing laboratory services market.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Census Bureau, and there may be a several-month lag between the reference period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Expenses for Testing Laboratories, All Establishments, Employer Firms (TLEAEEF354138), retrieved from FRED.