Labor Compensation for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
Index 2017=100
IPUBN2111U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.55
Year-over-Year Change
-10.80%
Date Range
1/1/1987 - 1/1/2024
Summary
The Index 2017=100 measures the monthly output of the U.S. mining, utilities, and manufacturing sectors. It is a key indicator of the nation's industrial production and economic activity.
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 Index 2017=100 tracks changes in the total industrial output of the United States, including mining, utilities, and manufacturing. It is a widely-followed measure of the health and performance of the U.S. industrial economy.
Methodology
The index is calculated by the U.S. Federal Reserve based on data collected from industrial facilities across the country.
Historical Context
The Index 2017=100 is closely monitored by policymakers, analysts, and investors to assess the strength of the U.S. industrial sector and broader economic conditions.
Key Facts
- The index uses 2017 as its base year with a value of 100.
- It covers around 75% of the total industrial output in the United States.
- The index is published monthly by the Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The Index 2017=100 measures the total monthly output of the U.S. mining, utilities, and manufacturing sectors, providing a broad indicator of industrial activity.
Q: Why is this trend relevant for users or analysts?
A: The index is a closely watched gauge of the health and performance of the U.S. industrial economy, making it relevant for policymakers, economists, and investors assessing economic conditions.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates the index based on data collected directly from industrial facilities across the United States.
Q: How is this trend used in economic policy?
A: The Index 2017=100 is used by the Federal Reserve and other policymakers to monitor the strength of the U.S. industrial sector and inform decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The index is published monthly by the Federal Reserve, with a typical release lag of around 2 weeks following the end of the reference month.
Related Trends
Employment for Mining: Metal Ore Mining (NAICS 2122) in the United States
IPUBN2122W200000000
Hours Worked for Mining: Support Activities for Mining (NAICS 213) in the United States
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Hours Worked for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
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Real Sectoral Output for Mining: Coal Mining (NAICS 2121) in the United States
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Hours Worked for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
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Citation
U.S. Federal Reserve, Index 2017=100 (IPUBN2111U110000000), retrieved from FRED.