Labor Productivity for Utilities: Utilities (NAICS 221) in the United States
IPUCN221L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.26
Year-over-Year Change
3.35%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the utilities sector (NAICS 221) in the United States. It provides important insights into the efficiency and output of this critical infrastructure 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 Productivity for Utilities: Utilities (NAICS 221) in the United States trend tracks the ratio of real output to hours worked within the utilities industry. It serves as a key indicator of productivity and efficiency, which can inform business strategy and public policy decisions.
Methodology
The data is calculated based on output and labor input statistics collected by the U.S. Bureau of Labor Statistics.
Historical Context
This productivity metric helps analysts and policymakers assess the competitiveness and stability of the utilities sector.
Key Facts
- The utilities sector accounts for about 2% of U.S. GDP.
- Productivity growth in utilities has outpaced the overall economy in recent decades.
- Utilities provide essential services like electricity, natural gas, and water.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the utilities sector (NAICS 221) of the United States economy. It tracks the ratio of real output to hours worked in this critical infrastructure industry.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides important insights into the efficiency and competitiveness of the utilities sector, which can inform business strategies and public policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on output and labor input statistics for the utilities industry.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this productivity trend to assess the health and stability of the utilities sector, which provides essential services like electricity, natural gas, and water.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Labor Productivity for Utilities: Utilities (NAICS 221) in the United States (IPUCN221L000000000), retrieved from FRED.