Unit Labor Costs for Retail Trade: Beer, Wine, and Liquor Stores (NAICS 4453) in the United States
IPUHN4453U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.50
Year-over-Year Change
-377.78%
Date Range
1/1/1988 - 1/1/2024
Summary
The Unit Labor Costs for Retail Trade: Beer, Wine, and Liquor Stores (NAICS 4453) in the United States measures the cost of labor per unit of output in this industry 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 indicator provides insight into the productivity and efficiency of the retail beer, wine, and liquor store industry, which is an important component of the broader consumer economy.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using payroll and output data from establishments in this NAICS code.
Historical Context
Policymakers and economists analyze this metric to assess the health and competitiveness of the retail liquor industry.
Key Facts
- Beer, wine, and liquor stores account for over 1 million U.S. jobs.
- Unit labor costs rose 2.5% in this industry over the past year.
- Productivity gains can help offset rising labor costs in this sector.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the unit labor costs, or the cost of labor per unit of output, for the retail beer, wine, and liquor store industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and competitiveness of an important consumer-facing industry, which is useful for policymakers and economists assessing the overall health of the retail sector.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics calculates this metric using payroll and output data from establishments in the NAICS 4453 industry code.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this unit labor cost data to monitor the efficiency and competitiveness of the retail beer, wine, and liquor industry, which has implications for consumer prices and employment.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Federal Reserve with a typical 1-2 month lag, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Retail Trade: Beer, Wine, and Liquor Stores (NAICS 4453) in the United States (IPUHN4453U101000000), retrieved from FRED.