Labor Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States
IPUBN213U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.59
Year-over-Year Change
-4.65%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the labor compensation, including wages and benefits, for the support activities for mining industry in the United States. It provides insights into the labor costs and productivity within this crucial energy and resource 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 Labor Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States series tracks the total compensation, including wages and benefits, paid to workers in the support activities for mining industry. This metric is used by economists and policymakers to analyze labor market conditions, productivity, and cost pressures within the mining support services sector.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is relevant for understanding the health and competitiveness of the U.S. mining and energy industries.
Key Facts
- Mining support activities contribute over $50 billion annually to the U.S. economy.
- Labor costs account for approximately 25% of total operating expenses in the mining support services sector.
- The mining support services industry employs over 350,000 workers in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, paid to workers in the support activities for mining industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market conditions, productivity, and cost pressures within the crucial mining support services sector of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for policymakers and analysts seeking to understand the health and competitiveness of the U.S. mining and energy industries.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Mining: Support Activities for Mining (NAICS 213) in the United States (IPUBN213U110000000), retrieved from FRED.