Why Use This Data Source In Your Models?
Total employees in general freight trucking in Texas measures the number of persons 16 years of age or older working in freight trucking positions in the state of Texas. This indicates population size and occupation opportunity.
Freight Trucking Employees TX - Not Seas Adj
U.S. Bureau of Labor Statistics
Thousands of Persons, Not Seasonally Adjusted
The data shows auto correlation, seasonality and a non-normal distribution. The data should be differenced and seasonally adjusted. While the Order Norm transformation, provides the best normality, the Arcsin variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.38 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.97 with a p-value =0.03 indicating the data does not follow a normal distribution.
A skewness score of -0.21 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.03 with a p-value of 0.65 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Federal Reserve Bank of St. Louis and U.S. Bureau of Labor Statistics, All Employees: General Freight Trucking in Texas [SMU48000004348410001], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SMU48000004348410001, December 15, 2019.
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