Labor Productivity for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
IPUBN21239L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.20
Year-over-Year Change
148.28%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor productivity for the mining of other nonmetallic minerals and quarrying in the United States. It is a key indicator of industry efficiency and competitiveness.
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 for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States trend tracks output per hour worked in this specific mining subsector. It provides insights into the productivity and cost-effectiveness of the industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and employment information.
Historical Context
This productivity measure is used by policymakers, industry analysts, and economists to assess the competitiveness and growth potential of the nonmetallic mineral mining sector.
Key Facts
- Mining productivity increased by 3.5% in 2021.
- Nonmetallic mineral mining accounts for 6% of total U.S. mining output.
- Quarrying is a major component of this subsector.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity for the mining of other nonmetallic minerals and quarrying in the United States, providing insights into industry efficiency and competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This productivity measure is used by policymakers, industry analysts, and economists to assess the competitiveness and growth potential of the nonmetallic mineral mining sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and employment information.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, markets, and economists to evaluate the performance and competitiveness of the nonmetallic mineral mining industry in the United States.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Labor Statistics, with potential for minor delays or revisions.
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Citation
U.S. Federal Reserve, Labor Productivity for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States (IPUBN21239L001000000), retrieved from FRED.