Unit Labor Costs for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116.19
Year-over-Year Change
45.79%
Date Range
1/1/1987 - 1/1/2024
Summary
The Unit Labor Costs for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) trend measures the average cost of labor per unit of output for this wholesale sector in the United States. It is an important economic indicator for understanding productivity and inflationary pressures.
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 ratio of labor compensation to real output for the drugs and druggists' sundries wholesale industry. It provides insights into how labor costs are changing relative to productivity, which informs analysis of profit margins, pricing power, and overall economic conditions in the wholesale pharmaceutical supply chain.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using reported labor compensation and production metrics.
Historical Context
Trends in unit labor costs are closely monitored by policymakers, economists, and industry analysts to assess cost pressures and their potential impact on consumer prices and business investment.
Key Facts
- Unit labor costs in the drugs and druggists' sundries wholesale sector have risen 15% since 2015.
- This industry accounts for over $800 billion in annual sales in the U.S.
- Labor compensation makes up about 10% of total operating costs for large drug wholesalers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average cost of labor per unit of output for the drugs and druggists' sundries wholesale industry (NAICS 4242) in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs provide insights into productivity and cost pressures in this key wholesale sector, which has important implications for consumer prices, business investment, and overall economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using reported labor compensation and production metrics for the wholesale trade industry.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor unit labor cost trends to assess inflationary pressures and their potential impact on consumer prices, profit margins, and business investment decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve with a lag of approximately 2 months. There may be revisions to previously reported figures.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States (IPUGN4242U100000000), retrieved from FRED.