Labor Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.59
Year-over-Year Change
-4.65%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation in the support activities for mining industry in the United States. It is an important indicator for understanding labor costs and productivity in this key industrial 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 Labor Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States series tracks the total compensation paid to workers in this industry, including wages, salaries, and benefits. This data provides insights into labor market dynamics and cost pressures within the mining support services sector.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Economists and policymakers monitor this trend to assess the competitiveness and profitability of the U.S. mining support services industry.
Key Facts
- Covers the Mining: Support Activities for Mining (NAICS 21311) industry.
- Measures total compensation, including wages, salaries, and benefits.
- Provides insights into labor market dynamics in the U.S. mining support sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages, salaries, and benefits, paid to workers in the Mining: Support Activities for Mining (NAICS 21311) industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor market conditions and cost pressures within the U.S. mining support services industry, which is a key component of the broader energy and natural resources sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the competitiveness and profitability of the U.S. mining support services industry, which has important implications for energy production, investment, and employment.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States (IPUBN21311U110000000), retrieved from FRED.