Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 561720) in the United States
Percent Change from Year Ago
IPUPN561720U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/1988 - 1/1/2022
Summary
The 'Percent Change from Year Ago' metric tracks the year-over-year change in industrial production for the U.S. manufacturing sector. This data provides important insights into the health and trajectory of the broader economy.
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 series measures the year-over-year percent change in the Federal Reserve's Industrial Production Index for the manufacturing industry. It is a key indicator of economic activity, reflecting changes in output, employment, and investment across a range of manufacturing subsectors.
Methodology
The data is calculated by the U.S. Federal Reserve using survey responses and other inputs to construct the broader Industrial Production Index.
Historical Context
Policymakers and analysts closely monitor this manufacturing output metric to gauge overall economic conditions and inform monetary and fiscal policy decisions.
Key Facts
- The U.S. manufacturing sector accounts for over 11% of GDP.
- Industrial production reached a record high in 2021 after the COVID-19 recession.
- Percent change from a year ago is a widely-used yardstick for economic trends.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' series tracks the year-over-year percent change in the Federal Reserve's Industrial Production Index for the U.S. manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the health and trajectory of the manufacturing industry, which is a key driver of broader economic activity in the U.S.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using survey responses and other inputs to construct the broader Industrial Production Index.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this manufacturing output metric to gauge overall economic conditions and inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Federal Reserve publishes this data on a monthly basis, with a lag of around one month.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUPN561720U101000000), retrieved from FRED.