Unit Labor Costs for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
Percent Change from Year Ago
IPUBN2123U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.60
Year-over-Year Change
-9700.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the year-over-year change in a selected 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 trend is widely used by economists, policymakers, and analysts to assess the direction and magnitude of economic changes over time. It helps identify emerging trends and supports informed decision-making.
Methodology
The data is calculated by the U.S. Federal Reserve as the percent change between the current value and the value from the same period a year earlier.
Historical Context
Policymakers and investors closely monitor this trend to gauge the health of the economy and inform policy decisions or investment strategies.
Key Facts
- The trend is calculated as a percent change, not a raw value change.
- Year-over-year analysis helps smooth out seasonal fluctuations.
- The trend can be applied to a wide range of economic indicators.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' trend measures the year-over-year percentage change in a selected economic indicator, such as industrial production, retail sales, or consumer prices.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the pace and direction of economic growth or decline, helping analysts, policymakers, and investors make informed decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve as the percent change between the current value and the value from the same period a year earlier.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this trend to assess the health of the economy and inform policy decisions, such as adjusting interest rates or implementing fiscal measures.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly or quarterly basis, with some potential for minor delays. Users should be aware of any limitations in the underlying economic indicators used to calculate the trend.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2123U101000000), retrieved from FRED.