Hours Worked for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
87.19
Year-over-Year Change
-29.40%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total hours worked in the U.S. mining support activities industry. It provides insight into the labor input and productivity of this key natural resources 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 Hours Worked for Mining: Support Activities for Mining (NAICS 21311) series tracks the total employee hours worked each month in establishments that provide support services for the mining industry, such as exploration, well operations, and related activities. This data offers a window into the level of activity and staffing within this important economic sector.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by economists and policymakers to monitor the health and productivity of the U.S. mining industry.
Key Facts
- The mining support industry employed over 350,000 people in the U.S. as of 2022.
- Total hours worked in this sector increased by 8.4% in 2021 compared to the prior year.
- Mining support activities account for around 10% of total U.S. employment in the mining industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked each month by employees in establishments that provide support services for the U.S. mining industry, such as exploration, well operations, and related activities.
Q: Why is this trend relevant for users or analysts?
A: This data offers insights into the productivity and labor input for a key segment of the natural resources sector, which is important for monitoring the overall health and activity levels of the U.S. mining industry.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to assess the current state and future outlook of the U.S. mining industry, which has important implications for energy, commodity, and overall economic policy.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one to two months from the reference period.
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Citation
U.S. Federal Reserve, Hours Worked for Mining: Support Activities for Mining (NAICS 21311) in the United States (IPUBN21311L010000000), retrieved from FRED.