Hours Worked for Other Services (Except Public Administration): Repair and Maintenance (NAICS 811) in the United States
Percent Change from Year Ago
IPUUN811L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.90
Year-over-Year Change
-78.57%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' economic trend measures the year-over-year percentage change in an economic indicator, providing insight into 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 indicator is widely used by economists and policymakers to analyze underlying trends in the economy, as it helps control for seasonal fluctuations and offers a clearer picture of longer-term momentum.
Methodology
The percent change is calculated by comparing the current period's value to the same period a year earlier.
Historical Context
Monitoring these year-over-year trends is crucial for making informed decisions about economic policy and market conditions.
Key Facts
- Year-over-year percent changes smooth out seasonal fluctuations.
- The metric is widely used to identify turning points in the business cycle.
- Percent change from a year ago is a key indicator of economic momentum.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' metric measures the year-over-year percentage change in an economic indicator, such as industrial production or employment.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the underlying pace of economic growth or decline, helping analysts and policymakers make more informed decisions.
Q: How is this data collected or calculated?
A: The percent change is calculated by comparing the current period's value to the same period a year earlier.
Q: How is this trend used in economic policy?
A: Monitoring year-over-year trends in economic indicators is crucial for making informed decisions about monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly or quarterly basis, with some delay, but provides a reliable indicator of economic conditions over time.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUUN811L201000000), retrieved from FRED.