Unit Labor Costs for Manufacturing: Alumina and Aluminum Production and Processing (NAICS 3313) in the United States
IPUEN3313U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.59
Year-over-Year Change
50.18%
Date Range
1/1/1987 - 1/1/2024
Summary
The Unit Labor Costs for Manufacturing: Alumina and Aluminum Production and Processing (NAICS 3313) in the United States measures the labor costs associated with producing a unit of output in the aluminum manufacturing 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
This economic indicator provides insights into the efficiency and productivity of the U.S. aluminum manufacturing sector. It is used by economists and policymakers to assess industry competitiveness and inflationary pressures.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using industry-level production and employment data.
Historical Context
This metric is closely watched by analysts to gauge the international competitiveness of the U.S. aluminum industry.
Key Facts
- The U.S. is a major global producer of aluminum.
- Labor costs account for a significant portion of total production costs in the aluminum industry.
- Tracking unit labor costs helps assess the industry's international competitiveness.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the labor costs associated with producing a unit of output in the U.S. aluminum manufacturing industry (NAICS 3313).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the efficiency and productivity of the U.S. aluminum manufacturing sector, which is crucial for assessing its international competitiveness and inflationary pressures.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using industry-level production and employment data.
Q: How is this trend used in economic policy?
A: This indicator is closely watched by analysts and policymakers to gauge the international competitiveness of the U.S. aluminum industry and its potential impact on inflation.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Bureau of Labor Statistics, but may be subject to revisions and updates.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Manufacturing: Alumina and Aluminum Production and Processing (NAICS 3313) in the United States (IPUEN3313U100000000), retrieved from FRED.