Output per Worker for Manufacturing: Primary Metal Manufacturing (NAICS 331) in the United States
IPUEN331W000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80.05
Year-over-Year Change
-16.74%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures output per worker in the primary metal manufacturing industry in the United States. It provides insights into productivity and efficiency in 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 output per worker metric tracks the relationship between total production and employment in the primary metal manufacturing industry. It is a key indicator of labor productivity and a useful data point for economists and policymakers analyzing trends in this segment of the manufacturing economy.
Methodology
The Federal Reserve calculates this index based on data from the U.S. Census Bureau's Annual Survey of Manufactures.
Historical Context
This data is used to assess the competitiveness and health of the U.S. primary metals industry and its role within the broader manufacturing sector.
Key Facts
- The primary metal manufacturing industry includes smelting, refining, and alloying of ferrous and nonferrous metals.
- This sector accounts for over 5% of total U.S. manufacturing output.
- Productivity growth in primary metals can impact downstream industries like construction and automotive.
FAQs
Q: What does this economic trend measure?
A: This trend measures output per worker in the primary metal manufacturing industry, which includes smelting, refining, and alloying of ferrous and nonferrous metals.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity and efficiency within a key manufacturing segment, which is useful for economists and policymakers analyzing broader industrial and economic trends.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates this index based on data from the U.S. Census Bureau's Annual Survey of Manufactures.
Q: How is this trend used in economic policy?
A: This data is used to assess the competitiveness and health of the U.S. primary metals industry and its role within the broader manufacturing sector.
Q: Are there update delays or limitations?
A: This data is subject to the publication schedule of the U.S. Census Bureau's Annual Survey of Manufactures, which may result in some update delays.
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Citation
U.S. Federal Reserve, Output per Worker for Manufacturing: Primary Metal Manufacturing (NAICS 331) in the United States (IPUEN331W000000000), retrieved from FRED.