Hours Worked for Mining: Support Activities for Mining (NAICS 2131) in the United States
IPUBN2131L200000000 • 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
This economic trend measures the total number of hours worked in the support activities for mining industry in the United States. It provides insight into the level of activity and labor demand in this critical economic 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: Support Activities for Mining (NAICS 2131) in the United States indicator tracks the total number of hours worked by employees in establishments that provide support services for mining operations, such as exploration, site preparation, and well operations. This metric is an important barometer of economic activity and labor market conditions in the mining support industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This indicator is closely monitored by policymakers, industry analysts, and investors to assess the health and outlook of the mining support services sector.
Key Facts
- Mining support services employ over 350,000 workers in the U.S.
- Hours worked in this sector have increased by 20% since 2010.
- The mining support industry accounts for nearly 10% of total employment in the overall mining sector.
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, site preparation, and well operations.
Q: Why is this trend relevant for users or analysts?
A: This indicator is an important barometer of economic activity and labor market conditions in the critical mining support services sector, providing insights that are closely monitored by policymakers, industry analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers, economists, and market analysts to assess the health and outlook of the mining support services sector, which has significant implications for the broader economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Hours Worked for Mining: Support Activities for Mining (NAICS 2131) in the United States (IPUBN2131L200000000), retrieved from FRED.