Labor Compensation for Manufacturing: Lime and Gypsum Product Manufacturing (NAICS 3274) in the United States
IPUEN3274L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,863.49
Year-over-Year Change
100.53%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation in the lime and gypsum product manufacturing industry, a key component of the broader U.S. manufacturing sector. It provides insights into wage and productivity dynamics within this specialized manufacturing segment.
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 metric tracks changes in total wages, salaries, and benefits paid to workers in NAICS industry 3274, which covers establishments that manufacture lime and gypsum products. This data offers valuable insights into cost structures, competitiveness, and inflationary pressures within this important manufacturing subsector.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through establishment surveys.
Historical Context
Policymakers and industry analysts closely monitor this metric to assess the health and competitiveness of the U.S. manufacturing base.
Key Facts
- Lime and gypsum are critical inputs for construction, agriculture, and chemical production.
- Manufacturing accounts for over 11% of U.S. GDP.
- Compensation costs make up a significant portion of total production costs.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages, salaries, and benefits, for workers in the lime and gypsum product manufacturing industry (NAICS 3274) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into cost structures, productivity, and inflationary pressures within a key manufacturing subsector, which is important for policymakers and industry analysts assessing the health of the U.S. manufacturing base.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through establishment surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this metric to assess wage dynamics, competitiveness, and inflationary pressures within the U.S. manufacturing sector, which informs economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short lag, providing timely insights, but may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Labor Compensation for Manufacturing: Lime and Gypsum Product Manufacturing (NAICS 3274) in the United States (IPUEN3274L020000000), retrieved from FRED.