Unit Labor Costs for Manufacturing: Household Appliance Manufacturing (NAICS 3352) in the United States
IPUEN3352U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.30
Year-over-Year Change
-529.41%
Date Range
1/1/1988 - 1/1/2024
Summary
The Unit Labor Costs for Manufacturing: Household Appliance Manufacturing (NAICS 3352) in the United States measures the total labor costs incurred in producing one unit of output. This key productivity indicator is closely watched by economists and policymakers.
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 series tracks the total labor compensation, including wages and benefits, per unit of real output for the household appliance manufacturing industry. It is a vital metric for assessing industry-level productivity and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics as the ratio of hourly compensation to output per hour.
Historical Context
Policymakers and analysts use this metric to gauge the cost-competitiveness of U.S. manufacturers relative to global competitors.
Key Facts
- The U.S. household appliance manufacturing industry employs over 50,000 workers.
- Unit labor costs in this sector rose 3.2% in 2021 compared to the prior year.
- Productivity growth is a key driver of unit labor cost trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor costs, including wages and benefits, incurred in producing one unit of output in the U.S. household appliance manufacturing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of industry-level productivity and cost-competitiveness, which is closely monitored by economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics as the ratio of hourly compensation to output per hour.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the cost-competitiveness of U.S. manufacturers relative to global competitors, which informs trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Manufacturing: Household Appliance Manufacturing (NAICS 3352) in the United States (IPUEN3352U101000000), retrieved from FRED.