Unit Labor Costs for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States
IPUHN453910U101000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-5.40
Year-over-Year Change
1700.00%
Date Range
1/1/1988 - 1/1/2024
Summary
The Unit Labor Costs for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) measures the cost of labor required to produce one unit of output in this retail industry. It is an important indicator of productivity and labor market trends.
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 tracks the unit labor costs, which represent the cost of labor per unit of output. It is calculated as the ratio of total labor compensation to real output. The metric provides insights into labor productivity and can help inform economic and policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and market analysts closely monitor unit labor costs as they signal inflationary pressures and competitiveness.
Key Facts
- Retail trade accounts for over 10% of U.S. employment.
- Pet supplies is a fast-growing retail segment.
- Unit labor costs signal efficiency and pricing power.
FAQs
Q: What does this economic trend measure?
A: This metric measures the cost of labor required to produce one unit of output in the retail trade industry for pet and pet supplies stores (NAICS 453910).
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of productivity and labor market conditions, providing insights that are relevant for economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor unit labor costs as they signal inflationary pressures and competitiveness.
Q: Are there update delays or limitations?
A: The data is published regularly by the Bureau of Labor Statistics with typical update delays.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States (IPUHN453910U101000000), retrieved from FRED.