Labor Share for Manufacturing: Footwear Manufacturing (NAICS 31621) in the United States
IPUEN31621L030000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.32
Year-over-Year Change
9.22%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic trend measures the labor share of total production in the U.S. footwear manufacturing industry. It provides insights into the relative importance of labor costs and automation within this specific 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 share represents the fraction of total output that is paid to labor, as opposed to capital. Analyzing this metric helps economists and policymakers understand cost structures, productivity, and the underlying dynamics within the footwear manufacturing industry.
Methodology
The data is calculated by the U.S. Federal Reserve based on production and labor cost inputs.
Historical Context
This trend is closely watched by industry analysts and policymakers to assess the competitiveness and technological progress of the U.S. footwear manufacturing sector.
Key Facts
- Footwear manufacturing is a key U.S. industry.
- Labor costs are a significant factor in this sector.
- The labor share trend reflects automation and productivity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the labor share of total production in the U.S. footwear manufacturing industry, providing insights into the relative importance of labor costs and automation.
Q: Why is this trend relevant for users or analysts?
A: Analyzing the labor share helps economists and policymakers understand cost structures, productivity, and the underlying dynamics within the footwear manufacturing industry.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on production and labor cost inputs.
Q: How is this trend used in economic policy?
A: This trend is closely watched by industry analysts and policymakers to assess the competitiveness and technological progress of the U.S. footwear manufacturing sector.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, with minimal update delays.
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Citation
U.S. Federal Reserve, Labor Share for Manufacturing: Footwear Manufacturing (NAICS 31621) in the United States (IPUEN31621L030000000), retrieved from FRED.