Labor Compensation for Mining: Sand, Gravel, Clay, and Ceramic and Refractory Minerals Mining and Quarrying (NAICS 21232) in the United States
Millions of Dollars
IPUBN21232L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,352.49
Year-over-Year Change
107.12%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Dollars' trend measures the value of U.S. industrial production, a key indicator of economic activity and manufacturing health.
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 tracks the total dollar value of industrial production, which includes manufacturing, mining, and utilities. It's a widely watched metric for gauging the strength of the U.S. economy and can inform monetary and fiscal policy decisions.
Methodology
The data is collected and calculated monthly by the U.S. Federal Reserve.
Historical Context
Policymakers and analysts use this metric to assess the overall performance and direction of the industrial sector.
Key Facts
- The industrial production index has a base year of 2017.
- Manufacturing accounts for over 75% of total industrial production.
- Industrial production declined sharply during the 2020 COVID-19 recession.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Dollars' trend measures the total value of industrial production in the United States, including manufacturing, mining, and utilities.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the overall health and direction of the U.S. economy, as industrial production accounts for a significant portion of economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated monthly by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the performance and outlook of the industrial sector, which can inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The industrial production data is released monthly with a typical delay of around one month.
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Citation
U.S. Federal Reserve, Millions of Dollars (IPUBN21232L020000000), retrieved from FRED.