Labor Productivity for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
104.23
Year-over-Year Change
12.21%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. stone mining and quarrying industry, a key indicator of operational efficiency and cost 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 Labor Productivity for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States series tracks the output per hour of labor in this crucial industrial sector. It provides important insights into the productivity and competitiveness of a vital domestic industry.
Methodology
The data is calculated by the U.S. Federal Reserve based on production and employment figures for the stone mining and quarrying industry.
Historical Context
Economists and policymakers monitor this metric to assess the health and competitiveness of the U.S. mining sector.
Key Facts
- Mining is a crucial industry for the U.S. economy.
- Productivity growth can drive cost savings and competitiveness.
- This metric tracks a key NAICS industry code.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the U.S. stone mining and quarrying industry, specifically output per hour of labor.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the operational efficiency and cost competitiveness of a vital domestic industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on production and employment figures for the stone mining and quarrying industry.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this metric to assess the health and competitiveness of the U.S. mining sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve with typical publication lags.
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Citation
U.S. Federal Reserve, Labor Productivity for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States (IPUBN21231L000000000), retrieved from FRED.