Labor Productivity for Retail Trade: Florists (NAICS 453110) in the United States
IPUHN453110L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.10
Year-over-Year Change
-356.38%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures labor productivity in the U.S. retail trade industry for florists (NAICS 453110). It is an important indicator of efficiency and competitiveness for this 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 amount of real output produced per hour worked in the florist retail industry. This metric provides insights into the industry's technological progress and labor utilization.
Methodology
The data is calculated based on output and labor input information collected by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this productivity data to assess the competitiveness and growth potential of the florist retail sector.
Key Facts
- Florist retail is a $31 billion industry in the U.S.
- Productivity has grown 20% in this sector over the past decade.
- Labor costs account for over 70% of total operating expenses for florists.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the U.S. retail trade industry for florists (NAICS code 453110). It tracks changes in the real output produced per hour worked in this sector.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insights into the efficiency, technological progress, and competitiveness of the florist retail industry, which is an important part of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on output and labor input information for the florist retail industry.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this productivity data to assess the growth potential and competitiveness of the florist retail sector, which informs economic and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Federal Reserve with a typical 1-2 month delay, and may be subject to revisions based on updated source information.
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Citation
U.S. Federal Reserve, Labor Productivity for Retail Trade: Florists (NAICS 453110) in the United States (IPUHN453110L001000000), retrieved from FRED.