Output per Worker for Manufacturing: Animal Slaughtering and Processing (NAICS 3116) in the United States
IPUEN3116W001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.40
Year-over-Year Change
33.33%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic indicator measures productivity in the U.S. animal slaughtering and processing industry, a key component of the manufacturing sector. It provides insights into labor efficiency and production capacity.
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 Output per Worker for Manufacturing: Animal Slaughtering and Processing (NAICS 3116) tracks the inflation-adjusted value of goods produced per worker in this manufacturing subsector. It is a widely used metric for analyzing productivity trends and labor market dynamics.
Methodology
The data is calculated by the U.S. Federal Reserve based on output and employment statistics.
Historical Context
This productivity measure is closely monitored by policymakers, industry analysts, and investors to assess the competitiveness and growth potential of the animal processing industry.
Key Facts
- The animal slaughtering and processing industry accounts for over 500,000 U.S. jobs.
- Output per worker in this sector has grown by over 20% in the past decade.
- Productivity gains have enabled the industry to meet rising domestic and global demand.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the real (inflation-adjusted) output per worker in the U.S. animal slaughtering and processing manufacturing subsector.
Q: Why is this trend relevant for users or analysts?
A: This productivity measure provides insights into the efficiency and competitiveness of a critical U.S. manufacturing industry, informing business and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on production and employment statistics for the animal slaughtering and processing industry.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor this productivity measure to assess the performance and growth potential of the animal processing sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Output per Worker for Manufacturing: Animal Slaughtering and Processing (NAICS 3116) in the United States (IPUEN3116W001000000), retrieved from FRED.