Labor Productivity for Retail Trade: Retail Trade (NAICS 44,45) in the United States
IPUHN4445L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.18
Year-over-Year Change
55.51%
Date Range
1/1/1987 - 1/1/2024
Summary
This trend measures labor productivity in the U.S. retail trade sector, providing insights into the efficiency and competitiveness of this key economic segment.
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 Labor Productivity for Retail Trade metric tracks the output per hour worked by employees in the retail trade industry, which encompasses a diverse range of businesses from stores to online retailers. This data offers important context for analyzing the overall health and performance of the retail sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using a combination of production and employment measures.
Historical Context
Policymakers and analysts monitor this metric to understand broader trends in consumer demand, technology adoption, and industry competitiveness.
Key Facts
- Retail trade is a major U.S. industry, employing over 15 million workers.
- Productivity growth in retail has lagged behind the overall U.S. economy in recent years.
- Innovations like e-commerce have transformed the retail landscape and affected productivity.
FAQs
Q: What does this economic trend measure?
A: This metric tracks labor productivity, or output per hour worked, in the U.S. retail trade industry.
Q: Why is this trend relevant for users or analysts?
A: Retail trade is a critical sector of the economy, and productivity data provides insights into its efficiency, competitiveness, and ability to meet consumer demand.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates this metric using production and employment data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor retail productivity to understand broader trends in consumer spending, technology adoption, and industry competitiveness.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a time lag of several months before being published.
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IPUHN453L020000000
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Hours Worked for Retail Trade: Florists (NAICS 453110) in the United States
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Hourly Compensation for Retail Trade: Health and Personal Care Stores (NAICS 446) in the United States
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Employment for Retail Trade: Hardware Stores (NAICS 44413) in the United States
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Citation
U.S. Federal Reserve, Labor Productivity for Retail Trade: Retail Trade (NAICS 44,45) in the United States (IPUHN4445L000000000), retrieved from FRED.