Unit Labor Costs for Mining: Support Activities for Mining (NAICS 2131) in the United States
Percent Change from Year Ago
IPUBN2131U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.50
Year-over-Year Change
-442.59%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the annual change in industrial production. It is a key economic indicator used by policymakers and analysts to gauge the health of the manufacturing 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
This industrial production index tracks the output of U.S. factories, mines, and utilities. The year-over-year percent change provides insight into the momentum and direction of the industrial economy over time.
Methodology
The Federal Reserve calculates this index based on monthly surveys of industrial facilities.
Historical Context
The 'Percent Change from Year Ago' is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- The index is published monthly by the Federal Reserve.
- The percent change reflects the annual rate of growth in industrial activity.
- Manufacturing makes up approximately 75% of the total industrial production index.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the annual rate of change in U.S. industrial production, reflecting the overall performance of the manufacturing, mining, and utilities sectors.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into the health and direction of the industrial economy, which is a key driver of broader economic growth. It is closely watched by policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates this index based on monthly surveys of industrial facilities across the United States.
Q: How is this trend used in economic policy?
A: The 'Percent Change from Year Ago' is a critical input for the Federal Reserve and other policymakers when assessing the state of the economy and making decisions on monetary policy and other interventions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of around six weeks from the end of the reference period.
Related Trends
Real Sectoral Output for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
IPUBN2111T010000000
Sectoral Output for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
IPUBN2123T300000000
Real Sectoral Output for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231T010000000
Output per Worker for Mining: Nonmetallic Mineral Mining and Quarrying (NAICS 2123) in the United States
IPUBN2123W000000000
Hours Worked for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
IPUBN2111L201000000
Real Sectoral Output for Mining: Mining (NAICS 21) in the United States
IPUBN21T010000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2131U101000000), retrieved from FRED.