Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
IPUGN42421U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.54
Year-over-Year Change
72.72%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation for wholesale trade in drugs and druggists' sundries in the United States. It provides insights into labor costs and productivity in this key economic 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 Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States is an important economic indicator that tracks changes in labor costs for this specialized wholesale industry. It helps economists and policymakers understand dynamics within the pharmaceutical and medical supply chain.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry productivity and cost measurement program.
Historical Context
This trend is widely used by analysts to assess the competitiveness and health of the wholesale pharmaceutical industry.
Key Facts
- The U.S. wholesale drugs and druggists' sundries industry employed over 400,000 workers in 2021.
- Hourly compensation in this sector has risen by over 30% in the past decade.
- The industry accounts for over $1 trillion in annual sales.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly compensation, including wages and benefits, for workers in the wholesale trade of drugs and druggists' sundries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and productivity within the pharmaceutical and medical supply wholesale industry, which is a key component of the healthcare sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry productivity and cost measurement program.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the competitiveness and health of the wholesale pharmaceutical industry, which has implications for healthcare costs and access.
Q: Are there update delays or limitations?
A: There is typically a 1-2 month delay in publishing this data, and the series only covers the wholesale trade of drugs and druggists' sundries, not the entire pharmaceutical supply chain.
Related Trends
Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
IPUGN42421L200000000
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IPUGN4248T011000000
Output per Worker for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) in the United States
IPUGN424W001000000
Sectoral Output Price Deflator for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210T050000000
Unit Labor Costs for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234U100000000
Citation
U.S. Federal Reserve, Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States (IPUGN42421U120000000), retrieved from FRED.