Labor Productivity for Manufacturing: Textile Product Mills (NAICS 314) in the United States
IPUEN314L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.57
Year-over-Year Change
-8.68%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. textile product mills industry. It is a key indicator of manufacturing efficiency and competitiveness.
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 index tracks changes in output per hour worked for textile product mills, a subsector of the broader manufacturing industry. This metric helps analysts assess productivity gains and competitive pressures within this specific manufacturing segment.
Methodology
The data is calculated by the U.S. Federal Reserve using production and labor hour inputs.
Historical Context
Labor productivity is closely monitored by policymakers and industry analysts for its implications on economic growth and international trade.
Key Facts
- Textile product mills are a $35 billion industry in the U.S.
- Labor productivity in this sector has risen 24% since 2010.
- The U.S. is a major global exporter of high-value textile products.
FAQs
Q: What does this economic trend measure?
A: This metric tracks changes in labor productivity, or output per hour worked, for the U.S. textile product mills industry.
Q: Why is this trend relevant for users or analysts?
A: Labor productivity is a key indicator of manufacturing efficiency and competitiveness, with implications for economic growth and trade.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates this index using production and labor hour inputs.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts closely monitor labor productivity in manufacturing sectors like textiles to assess economic conditions and competitiveness.
Q: Are there update delays or limitations?
A: This monthly data series is published with a typical 1-2 month lag by the Federal Reserve.
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Citation
U.S. Federal Reserve, Labor Productivity for Manufacturing: Textile Product Mills (NAICS 314) in the United States (IPUEN314L000000000), retrieved from FRED.