Unit Labor Costs for Mining: Other Nonmetallic Mineral Mining and Quarrying (NAICS 21239) in the United States
Percent Change from Year Ago
IPUBN21239U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.30
Year-over-Year Change
-285.71%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the annual percent change in an economic indicator, providing insights into growth or decline over the past year.
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 is widely used by economists and policymakers to analyze the performance of the broader economy and identify emerging trends. It offers a standardized way to contextualize changes in economic variables relative to the prior year.
Methodology
The percent change is calculated by comparing the current value of an indicator to its value from the same period a year earlier.
Historical Context
Analyzing percent changes from a year ago is crucial for assessing the health and trajectory of the economy.
Key Facts
- The percent change can be positive or negative, indicating expansion or contraction.
- Tracking percent changes is vital for monitoring inflation, employment, and other key economic variables.
- Policymakers use this metric to gauge the effectiveness of economic policies and make informed decisions.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the annual percent change in an economic indicator, providing insights into growth or decline over the past year.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to analyze the performance of the broader economy and identify emerging trends. It offers a standardized way to contextualize changes in economic variables relative to the prior year.
Q: How is this data collected or calculated?
A: The percent change is calculated by comparing the current value of an indicator to its value from the same period a year earlier.
Q: How is this trend used in economic policy?
A: Analyzing percent changes from a year ago is crucial for assessing the health and trajectory of the economy, which informs policymakers' decisions and assessments of economic policies.
Q: Are there update delays or limitations?
A: The timeliness and availability of the percent change data may vary depending on the specific economic indicator being measured and the data source.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUBN21239U101000000), retrieved from FRED.