Unit Labor Costs for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 4523) in the United States
IPUHN4523U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
113.10
Year-over-Year Change
24.88%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Unit Labor Costs for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 4523) in the United States' measures the cost of labor per unit of output in this retail sector. It is an important indicator of productivity and inflationary pressures.
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 series represents the ratio of labor compensation to real output in the general merchandise retail subsector. It helps assess trends in labor efficiency and input costs, which influence business profitability and consumer prices.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using payroll and production metrics from the retail industry.
Historical Context
Analysts and policymakers monitor this metric to understand the state of the retail labor market and its potential impact on the broader economy.
Key Facts
- Measures labor cost per unit of output in the general merchandise retail sector.
- Reflects trends in labor efficiency and input cost pressures for retailers.
- Provides insights into the state of the retail labor market and its broader economic implications.
FAQs
Q: What does this economic trend measure?
A: This metric measures the unit labor costs, or the cost of labor per unit of output, in the general merchandise retail subsector of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding labor productivity and inflationary pressures in the retail industry, which can have broader implications for consumer prices and the overall economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using payroll and production metrics from the retail industry.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this metric to assess the state of the retail labor market and its potential impact on the broader economy, informing decisions related to monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Federal Reserve and may be subject to revisions and delays typical of government statistical releases.
Related Trends
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IPUHN442210L001000000
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Output per Worker for Retail Trade: Automobile Dealers (NAICS 4411) in the United States
IPUHN4411W001000000
Output per Worker for Retail Trade: Cosmetics, Beauty Supplies, and Perfume Stores (NAICS 44612) in the United States
IPUHN44612W001000000
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IPUHN45121W200000000
Unit Labor Costs for Retail Trade: Direct Selling Establishments (NAICS 4543) in the United States
IPUHN4543U101000000
Citation
U.S. Federal Reserve, Unit Labor Costs for Retail Trade: General Merchandise Stores, Including Warehouse Clubs and Supercenters (NAICS 4523) in the United States (IPUHN4523U100000000), retrieved from FRED.