Labor Compensation for Retail Trade: Food and Beverage Stores (NAICS 445) in the United States
IPUHN445L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.80
Year-over-Year Change
35.71%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor compensation for the retail trade sector of food and beverage stores in the United States. It provides insights into the labor costs and dynamics within this important consumer-facing industry.
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 compensation for retail trade: food and beverage stores (NAICS 445) in the U.S. tracks the total wages, salaries, and supplements paid to employees in this sector. It is a key indicator of labor market conditions and production costs for a vital component of the consumer economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on survey responses from businesses.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess the health and outlook of the retail food and beverage sector.
Key Facts
- The retail food and beverage sector employs over 3 million workers in the U.S.
- Labor costs account for over 70% of total operating expenses for food and beverage retailers.
- Trends in this series can signal changes in consumer demand and inflation pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages, salaries, and benefits, paid to employees in the retail trade sector of food and beverage stores in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and production costs for the food and beverage retail industry, which is a key component of consumer spending and a barometer of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the food and beverage retail sector.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess labor market dynamics, inflationary pressures, and the overall health of the consumer-facing retail industry, which informs monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Labor Compensation for Retail Trade: Food and Beverage Stores (NAICS 445) in the United States (IPUHN445L021000000), retrieved from FRED.