Unit Labor Costs for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
Percent Change from Year Ago
IPUBN2111U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.40
Year-over-Year Change
481.82%
Date Range
1/1/1988 - 1/1/2024
Summary
The Percent Change from Year Ago metric tracks the annual change in a given economic indicator, providing insights into the pace of economic growth or decline.
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 metric compares the current value of an indicator to its value from one year prior, expressed as a percentage. It is widely used by economists and policymakers to assess the trajectory of the economy and inform decision-making.
Methodology
The data is calculated by the U.S. Federal Reserve based on underlying indicator values.
Historical Context
Percent Change from Year Ago is a key indicator monitored by the Federal Reserve and other institutions in evaluating the overall health of the economy.
Key Facts
- Tracks the annual change in economic indicators.
- Provides insights into the pace of economic growth or decline.
- Used by economists and policymakers to assess the economy.
FAQs
Q: What does this economic trend measure?
A: The Percent Change from Year Ago metric measures the annual change in a given economic indicator, providing insights into the pace of economic growth or decline.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess the trajectory of the economy and inform decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on underlying indicator values.
Q: How is this trend used in economic policy?
A: Percent Change from Year Ago is a key indicator monitored by the Federal Reserve and other institutions in evaluating the overall health of the economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, with typical update schedules and any known limitations.
Related Trends
Hourly Compensation for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
IPUBN2123U120000000
Labor Compensation for Mining: Support Activities for Mining (NAICS 2131) in the United States
IPUBN2131U110000000
Labor Compensation for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231L020000000
Hours Worked for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
IPUBN21239L010000000
Real Sectoral Output for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
IPUBN2111T010000000
Labor Compensation for Mining: Coal Mining (NAICS 21211) in the United States
IPUBN21211L020000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2111U101000000), retrieved from FRED.