Hourly Compensation for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States
IPUHN453910U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
165.41
Year-over-Year Change
75.50%
Date Range
1/1/1987 - 1/1/2024
Summary
The Hourly Compensation for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States metric tracks wages and benefits in the pet supply retail industry. This statistic is crucial for assessing labor market conditions and consumer demand in 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
This measure represents the average hourly compensation, including wages and benefits, for employees in the pet and pet supply retail industry in the United States. It is a key indicator of labor costs and workforce dynamics within this consumer-driven market segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through establishment surveys.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to gauge the health and competitiveness of the pet retail sector.
Key Facts
- Hourly compensation in pet retail has risen over 20% since 2010.
- The pet supply industry employs over 400,000 workers in the U.S.
- Pet ownership reached a record high of 70% of U.S. households in 2022.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average hourly compensation, including wages and benefits, for employees in the pet and pet supply retail industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This statistic is crucial for assessing labor market conditions and consumer demand in the pet supply retail sector, which is a key indicator of the overall health of this consumer-driven industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through establishment surveys.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and industry analysts to gauge the competitiveness and growth potential of the pet retail sector.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month delay in publication.
Related Trends
Sectoral Output for Retail Trade: Women's Clothing Stores (NAICS 448120) in the United States
IPUHN448120T300000000
Labor Compensation for Retail Trade: Vending Machine Operators (NAICS 4542) in the United States
IPUHN4542U110000000
Employment for Retail Trade: Sporting Goods, Hobby, Book, and Music Stores (NAICS 451) in the United States
IPUHN451W010000000
Hours Worked for Retail Trade: Florists (NAICS 45311) in the United States
IPUHN45311L010000000
Real Sectoral Output for Retail Trade: Office Supplies and Stationery Stores (NAICS 45321) in the United States
IPUHN45321T011000000
Labor Compensation for Retail Trade: Supermarkets and Other Grocery (Except Convenience) Stores (NAICS 445110) in the United States
IPUHN445110L021000000
Citation
U.S. Federal Reserve, Hourly Compensation for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States (IPUHN453910U120000000), retrieved from FRED.