Hours Worked for Retail Trade: Home Furnishings Stores (NAICS 4422) in the United States
IPUHN4422L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.40
Year-over-Year Change
-250.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Hours Worked for Retail Trade: Home Furnishings Stores (NAICS 4422) in the United States' trend measures the total number of hours worked by employees in the home furnishings retail industry. This metric is important for economists and policymakers to track consumer demand and employment conditions in this 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
This series represents the total hours worked by employees in retail establishments classified under the North American Industry Classification System (NAICS) code 4422, which includes stores that sell home furnishings such as furniture, home textiles, and household appliances. It provides insight into the production and labor input of this key consumer-facing industry.
Methodology
The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in home furnishings employment and hours worked are closely watched by economists, investors, and policymakers as indicators of consumer spending and economic conditions.
Key Facts
- Home furnishings stores account for about 5% of total U.S. retail employment.
- Hours worked in this sector tend to be sensitive to changes in consumer confidence and housing market conditions.
- The home furnishings industry was significantly impacted by the COVID-19 pandemic, with sharp declines in hours worked in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in retail establishments that sell home furnishings, including furniture, textiles, and appliances.
Q: Why is this trend relevant for users or analysts?
A: Trends in home furnishings employment and hours worked are closely watched as indicators of consumer spending and broader economic conditions, as the industry is sensitive to changes in consumer confidence and housing market activity.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists, investors, and policymakers use this metric to gauge consumer demand and labor market conditions in the home furnishings retail sector, which can inform decision-making around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is published monthly by the Federal Reserve with a typical lag of one to two months.
Related Trends
Hours Worked for Retail Trade: Food and Beverage Stores (NAICS 445) in the United States
IPUHN445L010000000
Unit Labor Costs for Retail Trade: Home Furnishings Stores (NAICS 4422) in the United States
IPUHN4422U101000000
Labor Compensation for Retail Trade: Family Clothing Stores (NAICS 448140) in the United States
IPUHN448140L020000000
Sectoral Output Price Deflator for Retail Trade: Family Clothing Stores (NAICS 448140) in the United States
IPUHN448140T051000000
Labor Compensation for Retail Trade: Family Clothing Stores (NAICS 44814) in the United States
IPUHN44814U110000000
Real Sectoral Output for Retail Trade: Clothing Accessories Stores (NAICS 44815) in the United States
IPUHN44815T010000000
Citation
U.S. Federal Reserve, Hours Worked for Retail Trade: Home Furnishings Stores (NAICS 4422) in the United States (IPUHN4422L201000000), retrieved from FRED.