Unit Labor Costs for Manufacturing: Medical Equipment and Supplies Manufacturing (NAICS 33911) in the United States
IPUEN33911U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.50
Year-over-Year Change
962.50%
Date Range
1/1/1988 - 1/1/2024
Summary
This trend measures unit labor costs for the medical equipment and supplies manufacturing industry in the United States. It provides insight into productivity and inflationary pressures within this important 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 unit labor cost index measures the cost of labor input required to produce one unit of output. It is a key indicator of productivity and competitiveness, as well as a gauge of inflationary pressure within the medical equipment manufacturing industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and total labor compensation.
Historical Context
Unit labor cost trends are closely monitored by policymakers and economists to assess the health of the manufacturing sector and broader economic conditions.
Key Facts
- Medical equipment manufacturing is a key U.S. industry.
- Rising unit labor costs can signal productivity declines or inflationary pressures.
- Trends in this metric are closely watched by economists and policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures unit labor costs for the medical equipment and supplies manufacturing industry in the United States. It provides insight into productivity and inflationary pressures within this important manufacturing sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost trends are closely monitored by policymakers and economists to assess the health of the manufacturing sector and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of output and total labor compensation.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely watched by economists and policymakers to gauge productivity, competitiveness, and inflationary pressures within the medical equipment manufacturing industry.
Q: Are there update delays or limitations?
A: The data is published with a lag, so there may be delays in the most recent information being available.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Manufacturing: Medical Equipment and Supplies Manufacturing (NAICS 33911) in the United States (IPUEN33911U101000000), retrieved from FRED.