Labor Compensation for Wholesale Trade: Wholesale Trade (NAICS 42) in the United States
IPUGN42L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
753,255.19
Year-over-Year Change
62.35%
Date Range
1/1/1987 - 1/1/2024
Summary
The Labor Compensation for Wholesale Trade trend measures the total compensation, including wages and benefits, paid to workers in the U.S. wholesale trade industry. This metric provides insight into labor costs and productivity for 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 Wholesale Trade (NAICS 42) Labor Compensation series tracks the total compensation, including salaries, wages, and benefits, paid to employees in the wholesale trade industry in the United States. This metric is used by economists and policymakers to analyze labor market dynamics and production costs within the wholesale distribution sector.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program.
Historical Context
Wholesale trade labor compensation is an important indicator for understanding broader economic conditions and the competitive landscape for businesses involved in the distribution of goods.
Key Facts
- Wholesale trade accounts for over 5% of total U.S. employment.
- Wholesale labor costs make up a significant portion of operating expenses for many businesses.
- Tracking changes in wholesale trade compensation can signal broader shifts in the economy.
FAQs
Q: What does this economic trend measure?
A: The Labor Compensation for Wholesale Trade trend measures the total compensation, including wages and benefits, paid to workers in the U.S. wholesale trade industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and productivity within the wholesale trade sector, which is a key driver of broader economic activity and distribution.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program.
Q: How is this trend used in economic policy?
A: Wholesale trade labor compensation is an important indicator for understanding broader economic conditions and the competitive landscape for businesses involved in the distribution of goods.
Q: Are there update delays or limitations?
A: The data is subject to the regular publication schedule and potential revisions of the QCEW program.
Related Trends
Hours Worked for Wholesale Trade: Professional and Commercial Equipment and Supplies Merchant Wholesalers (NAICS 4234) in the United States
IPUGN4234L010000000
Output per Worker for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244W001000000
Labor Compensation for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States
IPUGN4249L021000000
Unit Labor Costs for Wholesale Trade: Hardware, and Plumbing and Heating Equipment and Supplies Merchant Wholesalers (NAICS 4237) in the United States
IPUGN4237U101000000
Labor Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 4242) in the United States
IPUGN4242L020000000
Hours Worked for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
IPUGN4231L010000000
Citation
U.S. Federal Reserve, Labor Compensation for Wholesale Trade: Wholesale Trade (NAICS 42) in the United States (IPUGN42L020000000), retrieved from FRED.