Labor Compensation for Manufacturing: Engine, Turbine, and Power Transmission Equipment Manufacturing (NAICS 33361) in the United States
Percent Change from Year Ago
IPUEN33361L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.80
Year-over-Year Change
-50.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' series measures the year-over-year change in an economic indicator, providing insight into long-term trends and economic performance.
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 indicator calculates the percent change of a data point compared to the same period one year prior. It is widely used by economists and policymakers to analyze the direction and magnitude of economic changes over time.
Methodology
The percent change is calculated as the difference between the current value and the prior year's value, divided by the prior year's value.
Historical Context
Analyzing percent changes from a year ago is crucial for understanding broader economic conditions and informing policy decisions.
Key Facts
- Percent change from a year ago is a widely used economic metric.
- It helps identify long-term growth or decline in economic indicators.
- The data is published monthly by the U.S. Federal Reserve.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' series measures the year-over-year percent change in an economic indicator, providing insight into long-term trends.
Q: Why is this trend relevant for users or analysts?
A: Analyzing percent changes from a year ago is crucial for understanding broader economic conditions and informing policy decisions.
Q: How is this data collected or calculated?
A: The percent change is calculated as the difference between the current value and the prior year's value, divided by the prior year's value.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the direction and magnitude of economic changes over time, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Federal Reserve, with typical update lags of several weeks.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUEN33361L021000000), retrieved from FRED.