Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.59
Year-over-Year Change
18.47%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity for wholesale trade of drugs and druggists' sundries in the United States. It provides insights into the efficiency and competitiveness of this key industry 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 Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States series tracks the output per hour worked for businesses engaged in the wholesale distribution of pharmaceutical and personal care products. This metric is a leading indicator of industry competitiveness and profitability.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using establishment survey information.
Historical Context
Policymakers and industry analysts monitor this trend to assess the health and competitiveness of the pharmaceutical wholesale sector.
Key Facts
- Wholesale trade accounts for over 5% of U.S. GDP.
- The drugs and druggists' sundries sector employs over 400,000 workers.
- Labor productivity has increased by 20% in this industry over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity for businesses engaged in the wholesale distribution of pharmaceutical and personal care products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the efficiency and competitiveness of a key industry sector, enabling policymakers and industry analysts to assess the health and outlook of the pharmaceutical wholesale trade.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using establishment survey information.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts monitor this trend to evaluate the performance and competitiveness of the pharmaceutical wholesale sector, which is an important component of the broader U.S. economy.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have short publication lags, but it provides a reliable and timely indicator of labor productivity in this industry.
Related Trends
Output per Worker for Wholesale Trade: Wholesale Trade (NAICS 42) in the United States
IPUGN42W000000000
Unit Labor Costs for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 425) in the United States
IPUGN425U100000000
Hourly Compensation for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
IPUGN4232U120000000
Sectoral Output for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
IPUGN4232T301000000
Employment for Wholesale Trade: Wholesale Trade (NAICS 42) in the United States
IPUGN42W201000000
Hours Worked for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 425) in the United States
IPUGN425L201000000
Citation
U.S. Federal Reserve, Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States (IPUGN424210L000000000), retrieved from FRED.