Labor Compensation for Manufacturing: Apparel Accessories and Other Apparel Manufacturing (NAICS 3159) in the United States
IPUEN3159L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.50
Year-over-Year Change
-19.12%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor compensation in the apparel accessories and other apparel manufacturing industry in the United States. It provides insights into wage and productivity dynamics within this key 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 Compensation for Manufacturing: Apparel Accessories and Other Apparel Manufacturing (NAICS 3159) series tracks total employee compensation, including wages and benefits, for firms in this subsector of the U.S. manufacturing industry. It serves as an important indicator of labor market conditions and productivity trends in this specialized manufacturing segment.
Methodology
The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This labor compensation metric is used by economists and policymakers to monitor employment and wage pressures in the apparel manufacturing industry.
Key Facts
- Apparel manufacturing represents about 2% of total U.S. manufacturing employment.
- Labor compensation accounts for over 20% of total costs in the apparel manufacturing industry.
- The U.S. apparel manufacturing industry has faced significant competitive pressures from overseas in recent decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures total labor compensation, including wages and benefits, for firms in the apparel accessories and other apparel manufacturing industry (NAICS 3159) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This labor compensation metric provides insights into wage and productivity dynamics within this key manufacturing sector, which is an important indicator of employment conditions and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of manufacturing establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This labor compensation metric is used by economists and policymakers to monitor employment and wage pressures in the apparel manufacturing industry, which informs decisions around trade, workforce, and competitiveness policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Labor Compensation for Manufacturing: Apparel Accessories and Other Apparel Manufacturing (NAICS 3159) in the United States (IPUEN3159L021000000), retrieved from FRED.