Hourly Compensation for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.40
Year-over-Year Change
166.67%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures hourly compensation for workers in the chemical and allied products merchant wholesalers industry (NAICS 4246) in the United States. It provides insights into labor costs and productivity in this key industrial 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: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States tracks the average hourly labor costs, including wages and benefits, for employees in this wholesale trade industry. This metric is used by economists and policymakers to assess industry-level labor market conditions and productivity.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is relevant for understanding pricing pressures, competitiveness, and employment trends in the chemical and allied products wholesale trade industry.
Key Facts
- The series dates back to 1987.
- Chemical and allied products account for a significant share of U.S. wholesale trade activity.
- Hourly compensation is a key driver of industry costs and prices.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor costs, including wages and benefits, for employees in the chemical and allied products merchant wholesalers industry (NAICS 4246) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity in a key industrial sector, which is important for understanding pricing pressures, competitiveness, and employment trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess industry-level labor market conditions and productivity, which can inform decisions related to trade, regulation, and other economic policies.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and potential revisions of the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Hourly Compensation for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States (IPUGN4246U121000000), retrieved from FRED.