Output per Worker for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231W000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.54
Year-over-Year Change
13.40%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures output per worker in the stone mining and quarrying industry, a key component of the broader mining sector in the United States. It provides insights into the productivity and efficiency of this vital industry.
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 Output per Worker for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States metric tracks the volume of goods and services produced per worker in this specific industry. It is an important indicator of labor productivity and can inform economic analysis and policy decisions.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on production and employment figures from industry surveys.
Historical Context
This trend is used by economists, policymakers, and industry analysts to assess the competitiveness and growth potential of the stone mining and quarrying sector.
Key Facts
- The mining sector accounts for 0.5% of total U.S. GDP.
- The stone mining and quarrying industry employs over 70,000 workers.
- Output per worker in this industry has increased by 20% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the output per worker in the stone mining and quarrying industry (NAICS 21231) in the United States. It tracks the productivity and efficiency of this key component of the broader mining sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the competitiveness and growth potential of the stone mining and quarrying industry, which is a vital part of the U.S. economy. It informs economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on production and employment figures from industry surveys.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to assess the performance and outlook of the stone mining and quarrying sector, which has important implications for broader economic policy.
Q: Are there update delays or limitations?
A: There may be some delays in the reporting of this data due to the time required to collect and process the underlying industry survey information.
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Citation
U.S. Federal Reserve, Output per Worker for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States (IPUBN21231W000000000), retrieved from FRED.