Hourly Compensation for Retail Trade: Motor Vehicle and Parts Dealers (NAICS 441) in the United States
IPUHN441U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
137.76
Year-over-Year Change
57.74%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation for retail trade in the motor vehicle and parts dealers industry in the United States. It provides important insights into labor costs and productivity in this key 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 Retail Trade: Motor Vehicle and Parts Dealers (NAICS 441) in the United States metric tracks the average hourly pay and benefits for workers in this industry. It is a key indicator of labor market conditions and can inform policy decisions related to employment, wages, and economic competitiveness.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this trend to assess the health and dynamics of the motor vehicle retail industry.
Key Facts
- The motor vehicle and parts dealers industry accounts for over 1 million U.S. jobs.
- Hourly compensation in this sector has grown by 25% over the past decade.
- Retail trade is a key driver of the U.S. economy, comprising over 6% of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly pay and benefits for workers in the motor vehicle and parts dealers retail industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and productivity in a key sector of the U.S. economy, informing policy decisions related to employment, wages, and economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the health and dynamics of the motor vehicle retail industry, which is a significant driver of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Hourly Compensation for Retail Trade: Motor Vehicle and Parts Dealers (NAICS 441) in the United States (IPUHN441U120000000), retrieved from FRED.