Labor Compensation for Manufacturing: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States
IPUEN3334L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.10
Year-over-Year Change
-21.54%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor compensation, including wages and benefits, for workers in the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing industry in the United States. It provides insight into industry employment and productivity.
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: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States metric tracks employee earnings in this specific manufacturing sector. It is used by economists and policymakers to analyze labor market conditions and productivity trends within this industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the economic health and competitiveness of the HVAC manufacturing industry.
Key Facts
- Covers over 300,000 manufacturing jobs in the U.S.
- Increased by 9.2% from 2020 to 2021
- Reached an all-time high in Q4 2021
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and benefits, for workers in the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into employment and productivity conditions within this important manufacturing sector, which is crucial for understanding the broader economic health and competitiveness of the HVAC industry.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze labor market conditions and productivity trends within the HVAC manufacturing industry, which informs decisions around industry regulation, trade policy, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be delays in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Labor Compensation for Manufacturing: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States (IPUEN3334L021000000), retrieved from FRED.