Labor Productivity for Retail Trade: Pharmacies and Drug Stores (NAICS 44611) in the United States
IPUHN44611L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.30
Year-over-Year Change
-112.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic indicator measures labor productivity in the U.S. retail trade industry for pharmacies and drug stores. It provides insights into the efficiency and competitiveness 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 index tracks changes in the relationship between the output of pharmacies and drug stores and the labor hours required to produce that output. It serves as a key metric for analyzing productivity trends and growth within this industry.
Methodology
The data is calculated based on reports from the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this metric to assess the health and competitiveness of the pharmacy and drug store retail sector.
Key Facts
- The index has a base year of 2012 = 100.
- Productivity in this sector has grown steadily since the 1990s.
- Improving labor productivity is a key strategy for retail businesses.
FAQs
Q: What does this economic trend measure?
A: This metric measures labor productivity in the U.S. retail trade industry for pharmacies and drug stores. It tracks changes in the relationship between output and labor hours.
Q: Why is this trend relevant for users or analysts?
A: This productivity index provides insights into the efficiency and competitiveness of an important sector of the retail industry, which is valuable for policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the health and competitiveness of the pharmacy and drug store retail sector.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but may have some delay in reporting compared to real-time conditions.
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Citation
U.S. Federal Reserve, Labor Productivity for Retail Trade: Pharmacies and Drug Stores (NAICS 44611) in the United States (IPUHN44611L001000000), retrieved from FRED.