Labor Productivity for Retail Trade: Convenience Stores (NAICS 44512) in the United States
IPUHN44512L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-6.00
Year-over-Year Change
13.21%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. retail trade industry, specifically for convenience stores. It provides insights into the efficiency and performance of this important 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 Labor Productivity for Retail Trade: Convenience Stores (NAICS 44512) in the United States series tracks the output per hour of workers in the convenience store industry. This metric is a key indicator of economic competitiveness and can inform business strategies and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely watched by economists, policymakers, and industry analysts to understand labor market dynamics and productivity in the retail sector.
Key Facts
- Convenience stores account for over 34% of the U.S. retail trade industry.
- Labor productivity in the convenience store sector grew by 2.5% in 2021.
- The COVID-19 pandemic significantly impacted labor productivity in this industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the U.S. retail trade industry, specifically for convenience stores (NAICS 44512).
Q: Why is this trend relevant for users or analysts?
A: Labor productivity is a key indicator of economic competitiveness and efficiency, which is important for business strategies and policy decisions in the retail sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists, policymakers, and industry analysts to understand labor market dynamics and productivity in the retail sector.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Labor Productivity for Retail Trade: Convenience Stores (NAICS 44512) in the United States (IPUHN44512L001000000), retrieved from FRED.