Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242L000000000 • 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 in drugs and druggists' sundries (NAICS 4242) in the United States. It is an important indicator of efficiency and competitiveness within this critical supply chain 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 4242) in the United States trend tracks the output per hour of workers in this wholesale trade industry. It provides insight into the productivity and efficiency of this key distribution channel for pharmaceutical and related healthcare products.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and employment figures.
Historical Context
This productivity metric is closely watched by policymakers, industry analysts, and supply chain managers to assess the competitiveness and resilience of the wholesale pharmaceutical distribution network.
Key Facts
- Productivity in the U.S. wholesale drug trade has increased by over 50% in the past two decades.
- The drug and druggists' sundries wholesale sector employs over 400,000 workers nationwide.
- Efficient distribution is critical for ensuring adequate pharmaceutical supplies during crises.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity, or output per hour worked, for wholesale trade in drugs and druggists' sundries (NAICS industry 4242) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insight into the efficiency and competitiveness of a key distribution channel for pharmaceutical and healthcare products, which is critical information for policymakers, industry analysts, and supply chain managers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and employment figures for the wholesale trade industry.
Q: How is this trend used in economic policy?
A: This productivity trend is closely watched by policymakers to assess the competitiveness and resilience of the wholesale pharmaceutical distribution network, which is an important factor in ensuring adequate supplies of essential medicines.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis by the U.S. Federal Reserve, with a typical 1-2 month lag from the end of the reference period.
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Citation
U.S. Federal Reserve, Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States (IPUGN4242L000000000), retrieved from FRED.