Hourly Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.15
Year-over-Year Change
35.06%
Date Range
1/1/1987 - 1/1/2024
Summary
The Hourly Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States measures the average hourly labor costs, including wages and benefits, for workers in the mining support services 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
This economic indicator provides insight into the cost structure and labor market conditions within the mining support services sector, which is an important component of the broader mining and extraction industry. Analysts and policymakers monitor this data to assess the competitiveness and profitability of the mining industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Hourly compensation trends are closely watched by economists and industry stakeholders to gauge the health of the mining sector and broader economic conditions.
Key Facts
- Mining support services is a key part of the U.S. extraction industry.
- Hourly compensation includes both wages and benefits.
- This data helps assess the mining sector's competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor costs, including wages and benefits, for workers in the mining support services industry (NAICS 21311) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the cost structure and labor market conditions within the mining support services sector, which is a crucial part of the broader mining and extraction industry. Economists and industry stakeholders monitor this trend to assess the competitiveness and profitability of the mining sector.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Hourly compensation trends in the mining support services industry are closely watched by economists and policymakers to gauge the health of the mining sector and broader economic conditions. This information helps inform decisions and policies related to the mining industry and broader economic management.
Q: Are there update delays or limitations?
A: There may be some delays in the release of this data, as it is collected through employer surveys. Users should check the latest publication date to ensure they are working with the most up-to-date information.
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Citation
U.S. Federal Reserve, Hourly Compensation for Mining: Support Activities for Mining (NAICS 21311) in the United States (IPUBN21311U120000000), retrieved from FRED.