Hours Worked for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States
IPUBN21231L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.40
Year-over-Year Change
-18.18%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the monthly index of hours worked in the stone mining and quarrying industry (NAICS 21231) in the United States. It provides insights into the activity and labor utilization within this key industrial sector.
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 Hours Worked for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States index tracks changes in the total number of hours worked by employees in this subsector of the mining industry. It is a valuable indicator of production capacity, labor demand, and overall economic conditions within the stone mining and quarrying segment.
Methodology
The data is collected through surveys of establishments in the mining industry and calculated as an index with a base year of 2012.
Historical Context
This metric is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of the broader mining and construction materials sectors.
Key Facts
- The index has a base year of 2012.
- Mining accounts for approximately 0.5% of total U.S. GDP.
- The stone mining and quarrying industry supports thousands of jobs across the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly index of hours worked in the stone mining and quarrying industry (NAICS 21231) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the activity and labor utilization within the stone mining and quarrying industry, which is a key indicator of production capacity, demand, and overall economic conditions in the broader mining and construction materials sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments in the mining industry and calculated as an index with a base year of 2012.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of the mining and construction materials sectors, which are important for infrastructure development and broader economic activity.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical release delay of several weeks.
Related Trends
Employment for Mining: Mining (NAICS 21) in the United States
IPUBN21W201000000
Hourly Compensation for Mining: Metal Ore Mining (NAICS 2122) in the United States
IPUBN2122U120000000
Employment for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
IPUBN2111W200000000
Real Sectoral Output for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213T010000000
Sectoral Output Price Deflator for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311T050000000
Sectoral Output for Mining: Coal Mining (NAICS 21211) in the United States
IPUBN21211T301000000
Citation
U.S. Federal Reserve, Hours Worked for Mining: Stone Mining and Quarrying (NAICS 21231) in the United States (IPUBN21231L201000000), retrieved from FRED.