Hours Worked for Mining: Support Activities for Mining (NAICS 21311) in the United States
IPUBN21311L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
698.99
Year-over-Year Change
-29.40%
Date Range
1/1/1987 - 1/1/2024
Summary
The Hours Worked for Mining: Support Activities for Mining (NAICS 21311) trend measures the total number of hours worked in the U.S. mining support services industry. This metric provides insight into the level of economic activity and labor demand in this critical 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
This series tracks the total number of hours worked by employees in establishments that provide support services for mining operations, such as exploration, well operations, and other mining activities. It is a key indicator of production capacity and workforce utilization in the mining industry.
Methodology
The data is collected through surveys of U.S. businesses and compiled by the Federal Reserve.
Historical Context
Policymakers and analysts use this metric to assess the health and outlook of the mining support services industry and its broader economic impact.
Key Facts
- Mining support services account for over 400,000 U.S. jobs.
- Hours worked in this industry declined during the COVID-19 pandemic.
- The mining support services industry contributes billions to the U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in establishments that provide support services for mining operations, such as exploration, well operations, and other mining activities.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of economic activity and labor demand in the critical mining support services industry, making it a valuable indicator for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and compiled by the Federal Reserve.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health and outlook of the mining support services industry and its broader economic impact.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Hours Worked for Mining: Support Activities for Mining (NAICS 21311) in the United States (IPUBN21311L200000000), retrieved from FRED.