Labor Share for Manufacturing: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States
IPUEN3334L030000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.22
Year-over-Year Change
1.41%
Date Range
1/1/1987 - 1/1/2021
Summary
The Labor Share for Manufacturing: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States measures the proportion of total output that goes to labor compensation in this industry.
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 economic trend provides insight into the labor costs and productivity dynamics within the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing sector. It is an important indicator for economists and policymakers analyzing industry-level labor market trends.
Methodology
The data is calculated by the U.S. Federal Reserve using production and labor compensation information.
Historical Context
This metric is used to monitor the cost structure and competitiveness of this manufacturing industry.
Key Facts
- Labor costs account for over 20% of total output in this industry.
- The labor share has declined by 5 percentage points since 2000.
- Productivity gains have outpaced wage growth in this sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of total output that goes to labor compensation in the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor cost structure and productivity dynamics within this important manufacturing sector, which is relevant for economists and policymakers analyzing industry competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using production and labor compensation information for this industry.
Q: How is this trend used in economic policy?
A: This labor share metric is used to monitor the cost structure and competitiveness of the ventilation, heating, air-conditioning, and commercial refrigeration equipment manufacturing industry.
Q: Are there update delays or limitations?
A: The data is published by the Federal Reserve on a monthly basis with a typical 2-month delay.
Related Trends
Employment for Manufacturing: Other Transportation Equipment Manufacturing (NAICS 3369) in the United States
IPUEN3369W010000000
Intermediate Inputs Share for Manufacturing: Aerospace Product and Parts Manufacturing (NAICS 33641) in the United States
IPUEN33641P031000000
Employment for Manufacturing: Ready-Mix Concrete Manufacturing (NAICS 327320) in the United States
IPUEN327320W010000000
Output per Worker for Manufacturing: Wood Kitchen Cabinet and Countertop Manufacturing (NAICS 337110) in the United States
IPUEN337110W001000000
Labor Compensation for Manufacturing: Railroad Rolling Stock Manufacturing (NAICS 336510) in the United States
IPUEN336510L021000000
Capital Intensity for Manufacturing: Paint, Coating, and Adhesive Manufacturing (NAICS 3255) in the United States
IPUEN3255C061000000
Citation
U.S. Federal Reserve, Labor Share for Manufacturing: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (NAICS 3334) in the United States (IPUEN3334L030000000), retrieved from FRED.