Unit Labor Costs for Mining: Coal Mining (NAICS 21211) in the United States
Percent Change from Year Ago
IPUBN21211U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.60
Year-over-Year Change
125.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' metric measures the year-over-year change in an economic indicator, providing insight into long-term trends and the pace of economic growth or decline.
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 metric compares the current value of an economic indicator to its value from the same month or quarter one year prior, expressed as a percentage change. It is a widely used tool for analyzing economic performance and identifying turning points in business cycles.
Methodology
The percent change is calculated by the U.S. Federal Reserve as [(current value - prior year value) / prior year value] x 100.
Historical Context
Policymakers and market analysts rely on percent change data to inform decisions and understand the broader economic landscape.
Key Facts
- Percent change data provides insight into the pace of economic expansion or contraction.
- Year-over-year comparisons help smooth out seasonal variations in economic indicators.
- Percent change is a widely used tool for analyzing economic performance and identifying turning points.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric measures the year-over-year change in an economic indicator, providing insight into long-term trends and the pace of economic growth or decline.
Q: Why is this trend relevant for users or analysts?
A: Percent change data is a widely used tool for analyzing economic performance and identifying turning points in business cycles, helping policymakers and market analysts understand the broader economic landscape.
Q: How is this data collected or calculated?
A: The percent change is calculated by the U.S. Federal Reserve as [(current value - prior year value) / prior year value] x 100.
Q: How is this trend used in economic policy?
A: Policymakers rely on percent change data to inform decisions and understand the overall direction of the economy.
Q: Are there update delays or limitations?
A: The data is published by the Federal Reserve with the same release schedule as the underlying economic indicator.
Related Trends
Hours Worked for Mining: Metal Ore Mining (NAICS 2122) 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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Employment for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
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Hours Worked for Mining: Support Activities for Mining (NAICS 21311) in the United States
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Employment for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
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Sectoral Output for Mining: Sand, Gravel, Clay, and Ceramic and Refractory Minerals Mining and Quarrying (NAICS 21232) in the United States
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN21211U101000000), retrieved from FRED.