Labor Productivity for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
Percent Change from Year Ago
IPUBN2111L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.20
Year-over-Year Change
-200.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend measures the year-over-year change in an economic indicator, providing insights into growth and inflationary pressures.
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 indicator calculates the percent change in a variable compared to the same period in the previous year. It is a widely used metric to analyze economic performance and track the momentum of key data series over time.
Methodology
The percent change is calculated by comparing the current period's value to the prior year's value for the same period.
Historical Context
Policymakers and analysts closely monitor this metric to gauge the underlying health of the economy and inform policy decisions.
Key Facts
- The percent change can be positive or negative, indicating expansion or contraction.
- This metric is widely used to track trends in prices, production, employment, and other economic variables.
- Year-over-year comparisons help smooth out seasonal fluctuations in the data.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the year-over-year change in an economic indicator, providing insights into growth and inflationary pressures.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used to analyze economic performance and track the momentum of key data series over time, informing policy decisions and market assessments.
Q: How is this data collected or calculated?
A: The percent change is calculated by comparing the current period's value to the prior year's value for the same period.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to gauge the underlying health of the economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a regular schedule, with any potential delays or limitations depending on the specific underlying series.
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Hourly Compensation for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2111L001000000), retrieved from FRED.