Labor Productivity for Mining: Coal Mining (NAICS 21211) in the United States
IPUBN21211L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.29
Year-over-Year Change
1.55%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. coal mining industry. It is a key indicator of efficiency and competitiveness in this important energy 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
The labor productivity index for coal mining (NAICS 21211) tracks changes in the ratio of real output to hours worked over time. It provides insight into how efficiently this industry utilizes its labor resources to drive production.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and hours worked data from industry surveys.
Historical Context
Policymakers and industry analysts closely monitor this metric to assess the coal sector's performance and long-term viability.
Key Facts
- Coal mining is a major U.S. industry, producing over 600 million short tons annually.
- Labor productivity in coal mining has risen 58% since 2000 due to technological innovation.
- The coal mining industry accounts for over 50,000 direct U.S. jobs.
FAQs
Q: What does this economic trend measure?
A: This index measures labor productivity in the U.S. coal mining industry, tracking changes in the ratio of real output to hours worked.
Q: Why is this trend relevant for users or analysts?
A: This metric provides key insights into the efficiency and competitiveness of a critical U.S. energy sector, informing policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates this index using production and hours worked data from industry surveys.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this productivity metric to assess the coal sector's performance and long-term viability.
Q: Are there update delays or limitations?
A: The labor productivity index for coal mining is updated quarterly by the Bureau of Labor Statistics with a short publication delay.
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Citation
U.S. Federal Reserve, Labor Productivity for Mining: Coal Mining (NAICS 21211) in the United States (IPUBN21211L000000000), retrieved from FRED.