Labor Compensation for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 45231) in the United States
IPUHN45231L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.80
Year-over-Year Change
-40.43%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the total labor compensation for general merchandise stores, including warehouse clubs and supercenters, in the United States. It is an important indicator of consumer spending and economic activity in the retail 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 Compensation for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 45231) in the United States tracks the total wages, salaries, and benefits paid to employees in this key retail industry. It provides insight into labor costs and productivity trends in a crucial segment of the economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry-level compensation estimates.
Historical Context
This metric is widely used by economists, policymakers, and market analysts to assess the health and outlook of the retail industry and broader consumer economy.
Key Facts
- This metric covers over 3.2 million workers in the U.S. general merchandise retail sector.
- Compensation levels in this industry have grown by an average of 2.5% annually over the past decade.
- Trends in this data help inform the Federal Reserve's monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages, salaries, and benefits, for employees in general merchandise stores, warehouse clubs, and supercenters in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor costs and productivity in a key sector of the retail industry, which is a major driver of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry-level compensation estimates.
Q: How is this trend used in economic policy?
A: Trends in this data help inform the Federal Reserve's monetary policy decisions, as it provides a gauge of consumer spending, labor market conditions, and broader economic activity.
Q: Are there update delays or limitations?
A: This data is published monthly with a lag of approximately one month, so there may be a short delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Labor Compensation for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 45231) in the United States (IPUHN45231L021000000), retrieved from FRED.