Hourly Compensation for Mining: Support Activities for Mining (NAICS 2131) in the United States
Percent Change from Year Ago
IPUBN2131U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.40
Year-over-Year Change
175.56%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the annual rate of change in manufacturing production, providing insight into the health and direction of the 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
This economic indicator tracks the year-over-year percentage change in the Federal Reserve's Industrial Production Index, a leading measure of real output in the manufacturing, mining, and electric and gas utility industries.
Methodology
The data is calculated from the monthly Industrial Production Index published by the U.S. Federal Reserve.
Historical Context
The percent change metric is widely used by economists, policymakers, and market analysts to assess the momentum and broader trends in industrial activity.
Key Facts
- Annual manufacturing output growth slowed to 1.5% in 2022.
- The index reached a record high in 2021 as the economy rebounded from the COVID-19 pandemic.
- Industrial production is a key leading indicator for the broader U.S. economy.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' tracks the annual rate of change in manufacturing, mining, and utility output in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and direction of the industrial sector, which is a critical component of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated from the monthly Industrial Production Index published by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor the percent change in industrial output to assess economic momentum and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Industrial Production Index data is released monthly by the Federal Reserve, with a typical publication delay of around six weeks.
Related Trends
Labor Compensation for Mining: Metal Ore Mining (NAICS 2122) in the United States
IPUBN2122L020000000
Sectoral Output for Mining: Oil and Gas Extraction (NAICS 211) in the United States
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Real Sectoral Output for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
IPUBN21239T011000000
Hourly Compensation for Mining: Metal Ore Mining (NAICS 2122) in the United States
IPUBN2122U120000000
Hourly Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213U121000000
Employment for Mining: Mining (NAICS 21) in the United States
IPUBN21W201000000
Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN2131U121000000), retrieved from FRED.