Hours Worked for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) in the United States
IPUGN424L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,307.15
Year-over-Year Change
3.03%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total hours worked by employees in the U.S. wholesale trade industry for nondurable goods. It provides insight into the productivity and labor utilization 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 Hours Worked for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) indicator tracks the total number of hours worked by employees in the wholesale trade industry for non-durable consumer products. This metric is used by economists and policymakers to analyze labor market trends and assess the health of the wholesale trade sector.
Methodology
The data is collected through surveys of U.S. businesses and calculated as a total of paid employee hours.
Historical Context
This indicator helps inform decisions around economic and monetary policy, as well as business investment and hiring strategies.
Key Facts
- The wholesale trade industry accounts for over 5% of U.S. GDP.
- Nondurable goods include products with a lifespan of less than 3 years.
- Hours worked is a key indicator of productivity and labor utilization.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked by employees in the U.S. wholesale trade industry for nondurable consumer goods, providing insight into labor utilization in this key economic sector.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for economists and policymakers to analyze labor market trends and assess the health of the wholesale trade industry, which is a significant contributor to the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and calculated as a total of paid employee hours.
Q: How is this trend used in economic policy?
A: This indicator helps inform decisions around economic and monetary policy, as well as business investment and hiring strategies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
Related Trends
Sectoral Output Price Deflator for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
IPUGN4231T050000000
Sectoral Output Price Deflator for Wholesale Trade: Wholesale Electronic Markets and Agents and Brokers (NAICS 4251) in the United States
IPUGN4251T051000000
Labor Compensation for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234L020000000
Employment for Wholesale Trade: Electrical and Electronic Goods Merchant Wholesalers (NAICS 4236) in the United States
IPUGN4236W010000000
Sectoral Output for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247T301000000
Labor Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242L021000000
Citation
U.S. Federal Reserve, Hours Worked for Wholesale Trade: Merchant Wholesalers, Nondurable Goods (NAICS 424) in the United States (IPUGN424L200000000), retrieved from FRED.