Output per Worker for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States
IPUBN212W001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-6.80
Year-over-Year Change
223.81%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures productivity in the U.S. mining industry, excluding oil and gas extraction. It reflects output per worker, a key metric for assessing the industry's efficiency and competitiveness.
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 Output per Worker for Mining series tracks the real output per worker in the mining industry, a subset of the broader manufacturing sector. This metric provides insight into the productivity and labor utilization of the mining industry, which is crucial for understanding its economic impact and global competitiveness.
Methodology
The data is calculated by the U.S. Federal Reserve using production and employment figures from the mining industry.
Historical Context
Policymakers and analysts monitor this trend to gauge the health and outlook of the U.S. mining sector.
Key Facts
- Mining is a key component of U.S. manufacturing.
- Output per worker is a measure of industry efficiency.
- This trend excludes oil and gas extraction.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output per worker in the U.S. mining industry, excluding oil and gas extraction. It provides insight into the productivity and labor utilization of the mining sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the competitiveness and economic contribution of the U.S. mining industry. Monitoring productivity helps inform policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this metric using production and employment data from the mining industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the health and outlook of the U.S. mining sector, which is crucial for understanding the broader manufacturing landscape and global competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to the typical release schedule and potential revisions of U.S. Federal Reserve statistics.
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Citation
U.S. Federal Reserve, Output per Worker for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States (IPUBN212W001000000), retrieved from FRED.