Labor Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,477.36
Year-over-Year Change
-4.65%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the labor compensation for workers in support activities for mining in the United States. It is an important indicator of productivity and labor costs in the mining industry.
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 Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States data series tracks the total labor costs, including wages and benefits, for employees in industries that provide support services for mining operations. This metric is closely monitored by economists and policymakers to assess labor market conditions and production costs in the mining sector.
Methodology
The data is collected through surveys of businesses in the mining support services industry and calculated by the U.S. Federal Reserve.
Historical Context
This trend is used by analysts to gauge the financial health and competitiveness of the U.S. mining industry.
Key Facts
- Mining support activities employ over 350,000 workers in the U.S.
- Labor costs account for approximately 25% of total operating expenses in the mining industry.
- This metric has increased by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, for workers employed in industries that provide support services for mining operations in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely monitored by economists and industry analysts to assess labor market conditions, production costs, and the overall financial health of the U.S. mining sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the mining support services industry and calculated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and market analysts to gauge the competitiveness and profitability of the U.S. mining industry, which is a critical component of the national economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of 1-2 months from the reference period.
Related Trends
Output per Worker for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213W000000000
Unit Labor Costs for Mining: Support Activities for Mining (NAICS 21311) in the United States
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Hours Worked for Mining: Oil and Gas Extraction (NAICS 2111) in the United States
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IPUBN213U121000000
Citation
U.S. Federal Reserve, Labor Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States (IPUBN213L020000000), retrieved from FRED.