Labor Productivity for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.65
Year-over-Year Change
-3.94%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the mining support activities industry in the United States. It is an important indicator for understanding productivity and efficiency in the energy and natural resource sectors.
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: Support Activities for Mining (NAICS 213) in the United States metric tracks changes in the amount of output produced per hour of labor in this industry. It provides insights into technological progress, automation, and the overall competitiveness of the mining support sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and employment figures.
Historical Context
Analysts and policymakers monitor this trend to assess the health and competitiveness of the U.S. mining industry.
Key Facts
- Mining support services employ over 300,000 workers in the U.S.
- Productivity in this sector grew by 25% from 2010 to 2020.
- The U.S. is a global leader in mining support services technology and efficiency.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity, or output per hour of labor, in the mining support activities industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the technological progress, automation, and overall competitiveness of the U.S. mining support sector, which is an important part of the energy and natural resource industries.
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: Analysts and policymakers monitor this trend to assess the health and competitiveness of the U.S. mining industry, which has implications for energy security, job creation, and economic growth.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Labor Productivity for Mining: Support Activities for Mining (NAICS 213) in the United States (IPUBN213L000000000), retrieved from FRED.