Hourly Compensation for Mining: Coal Mining (NAICS 21211) in the United States
Percent Change from Year Ago
IPUBN21211U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.10
Year-over-Year Change
10.87%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' trend measures the annual rate of change in a specific economic indicator. This metric is closely watched by economists and policymakers to gauge the pace of economic growth or inflation.
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 percentage change figure compares the current value of an economic time series to its value from one year prior. It provides a standardized way to analyze year-over-year changes, which is useful for identifying broad trends and turning points in the economy.
Methodology
The data is calculated as the percent change between the current month's value and the same month's value from the previous year.
Historical Context
This trend is widely referenced in economic analysis and policy discussions to understand the broader trajectory of the U.S. economy.
Key Facts
- The U.S. economy grew 3.2% year-over-year in Q1 2023.
- Consumer prices rose 6.0% over the past 12 months as of March 2023.
- Industrial production increased 2.5% year-over-year in February 2023.
FAQs
Q: What does this economic trend measure?
A: This metric measures the annual percent change in a specific economic indicator, providing a standardized way to analyze year-over-year trends.
Q: Why is this trend relevant for users or analysts?
A: The year-over-year percent change is a widely-used and informative indicator that helps economists and policymakers assess the broader trajectory of the U.S. economy.
Q: How is this data collected or calculated?
A: The percent change is calculated as the difference between the current month's value and the same month's value from the previous year, divided by the prior year's value.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other institutions closely monitor year-over-year trends to inform decisions on interest rates, inflation targeting, and other macroeconomic policies.
Q: Are there update delays or limitations?
A: This data is typically released on a monthly basis with a short lag, allowing for timely analysis of economic conditions.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN21211U121000000), retrieved from FRED.