Hourly Compensation for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States
IPUGN4245U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.00
Year-over-Year Change
25.33%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation for wholesale trade in farm product raw material merchant wholesalers (NAICS 4245) in the United States. It provides insights into labor costs and productivity in this critical 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: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States trend tracks changes in total hourly labor costs, including wages and benefits, for this specific subsector of the wholesale trade industry. It is used by economists and policymakers to analyze workforce dynamics and cost pressures in the agricultural supply chain.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding employment conditions, inflation risks, and the overall health of the agricultural and food production industries.
Key Facts
- Wholesale trade accounts for over $6 trillion in annual U.S. economic activity.
- Farm product raw material merchant wholesalers employ over 130,000 workers.
- Hourly compensation in this sector has risen by 25% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly compensation, including wages and benefits, for wholesale trade businesses focused on farm product raw materials (NAICS 4245) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity trends within a critical segment of the agricultural supply chain, which is useful for economists, policymakers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is relevant for understanding employment conditions, inflation risks, and the overall health of the agricultural and food production industries, which informs economic policies and market analysis.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Hourly Compensation for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States (IPUGN4245U120000000), retrieved from FRED.