Labor Productivity for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States
IPUBN212L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.70
Year-over-Year Change
714.29%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. mining industry, excluding oil and gas. It is a key indicator of industry 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 Labor Productivity for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States series tracks output per hour worked in the mining sector, providing insights into industry productivity and performance.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and employment figures.
Historical Context
This metric is widely used by economists, policymakers, and industry analysts to assess the competitive position and operational efficiency of the U.S. mining sector.
Key Facts
- Productivity has increased by 25% in the U.S. mining sector since 2010.
- Mining (except oil and gas) accounts for 0.4% of total U.S. employment.
- Labor productivity is a key driver of industry profitability and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This metric tracks output per hour worked in the U.S. mining industry, excluding oil and gas operations.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity is a crucial indicator of industry efficiency and competitiveness, providing insights that inform economic policymaking and business strategy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and employment figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess the health and competitiveness of the U.S. mining sector, which has implications for energy security, trade, and economic growth.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Labor Productivity for Mining: Mining (Except Oil and Gas) (NAICS 212) in the United States (IPUBN212L001000000), retrieved from FRED.