Unit Labor Costs for Retail Trade: Home Centers (NAICS 44411) in the United States
IPUHN44411U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.90
Year-over-Year Change
-121.95%
Date Range
1/1/1988 - 1/1/2024
Summary
This trend measures unit labor costs for home centers, a key retail industry, in the United States. It provides insights into labor productivity and cost pressures that can inform economic policy and business decision-making.
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
Unit labor costs (ULC) represent the average cost of labor per unit of output. For the home centers industry, this metric helps analyze how labor expenses and productivity evolve over time, which can impact pricing, profitability, and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and total labor inputs.
Historical Context
Policymakers and analysts use ULC data to assess inflationary pressures and the overall health of the retail sector.
Key Facts
- Unit labor costs for home centers rose 3.2% in 2022.
- Home centers account for over 10% of total U.S. retail sales.
- Labor is the largest cost component for most home center operations.
FAQs
Q: What does this economic trend measure?
A: This trend measures unit labor costs, which represent the average cost of labor per unit of output, for the home centers industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: Unit labor cost data provides insights into labor productivity and cost pressures in the home centers industry, which can inform economic policy, business strategy, and investment decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and total labor inputs.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use ULC data to assess inflationary pressures and the overall health of the retail sector, which can inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Retail Trade: Home Centers (NAICS 44411) in the United States (IPUHN44411U101000000), retrieved from FRED.