Labor Productivity for Manufacturing: Other Nonmetallic Mineral Product Manufacturing (NAICS 3279) in the United States
IPUEN3279L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.20
Year-over-Year Change
-557.14%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor productivity in the Other Nonmetallic Mineral Product Manufacturing industry (NAICS 3279) in the United States. It is a key indicator for assessing the efficiency and competitiveness of this important manufacturing 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 productivity index tracks changes in the relationship between the output of goods and the labor hours used to produce them in this specific manufacturing industry. Economists and policymakers closely monitor labor productivity as it influences factors like wages, inflation, and international trade competitiveness.
Methodology
The data is calculated by the U.S. Federal Reserve using production and labor input statistics.
Historical Context
Trends in labor productivity are closely watched by economists, businesses, and policymakers to understand the industry's efficiency and competitiveness.
Key Facts
- Manufacturing accounts for 11.4% of U.S. GDP.
- Nonmetallic mineral products are used widely in construction.
- Labor productivity has a major impact on industry wages and prices.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the Other Nonmetallic Mineral Product Manufacturing industry (NAICS 3279) in the United States. It tracks changes in the relationship between output and labor hours in this specific manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in labor productivity are closely watched by economists, businesses, and policymakers as they provide insights into the efficiency and competitiveness of this important manufacturing industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using production and labor input statistics.
Q: How is this trend used in economic policy?
A: Measures of labor productivity influence factors like wages, inflation, and international trade competitiveness, making this trend relevant for economic analysis and policymaking.
Q: Are there update delays or limitations?
A: The data is published by the Federal Reserve with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Productivity for Manufacturing: Other Nonmetallic Mineral Product Manufacturing (NAICS 3279) in the United States (IPUEN3279L001000000), retrieved from FRED.