Labor Compensation for Retail Trade: Miscellaneous Store Retailers (NAICS 453) in the United States
IPUHN453L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,821.69
Year-over-Year Change
48.04%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly labor compensation for workers in the Miscellaneous Store Retailers (NAICS 453) industry in the United States. It provides insights into wage and benefit levels for this 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: Miscellaneous Store Retailers (NAICS 453) in the United States metric tracks inflation-adjusted hourly wages, salaries, and benefits paid to employees in this specific retail industry. It is a key indicator of labor market conditions and consumer spending power.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by economists, policymakers, and industry analysts to assess the health of the retail sector and broader consumer economy.
Key Facts
- This metric has been tracked since 1947.
- Miscellaneous store retailers include florists, office supply stores, and other specialty retailers.
- Compensation levels in this industry can indicate consumer confidence and broader economic trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly labor compensation, including wages, salaries, and benefits, for workers in the Miscellaneous Store Retailers (NAICS 453) industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and consumer spending power within the retail sector, which is a key driver of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this indicator to assess the health of the retail industry and consumer economy, which informs decisions on monetary and fiscal policy.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Retail Trade: Miscellaneous Store Retailers (NAICS 453) in the United States (IPUHN453L020000000), retrieved from FRED.