Unit Labor Costs for Retail Trade: Other Direct Selling Establishments (NAICS 454390) in the United States
IPUHN454390U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.61
Year-over-Year Change
-36.96%
Date Range
1/1/1987 - 1/1/2024
Summary
The Unit Labor Costs for Retail Trade: Other Direct Selling Establishments (NAICS 454390) in the United States measures the cost of labor per unit of output produced in this sector. It is a key 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 tracks changes in the total labor costs required to produce one unit of output in the Other Direct Selling Establishments industry. It reflects both wage levels and labor productivity, providing insights into the sector's competitiveness and inflationary dynamics.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on industry-level output and compensation.
Historical Context
Policymakers and analysts use this metric to assess the health of the retail trade sector and broader economic conditions.
Key Facts
- Unit labor costs rose 5.2% in 2022 compared to the prior year.
- The retail trade sector accounts for over 15% of total U.S. employment.
- Labor productivity in the Other Direct Selling Establishments industry has increased by 12% since 2015.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total labor costs required to produce one unit of output in the Other Direct Selling Establishments industry (NAICS 454390).
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a key indicator of productivity and inflationary pressures in the retail trade sector, which is a significant 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 industry-level output and compensation figures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of the retail trade sector and broader economic conditions, as it provides insights into productivity and inflationary dynamics.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
Related Trends
Hours Worked for Retail Trade: Florists (NAICS 453110) in the United States
IPUHN453110L200000000
Sectoral Output for Retail Trade: Tire Dealers (NAICS 441320) in the United States
IPUHN441320T301000000
Real Sectoral Output for Retail Trade: Men's Clothing Stores (NAICS 448110) in the United States
IPUHN448110T010000000
Unit Labor Costs for Retail Trade: Pet and Pet Supplies Stores (NAICS 453910) in the United States
IPUHN453910U101000000
Labor Productivity for Retail Trade: Electronics Stores (NAICS 443142) in the United States
IPUHN443142L001000000
Real Sectoral Output for Retail Trade: Sporting Goods Stores (NAICS 45111) in the United States
IPUHN45111T011000000
Citation
U.S. Federal Reserve, Unit Labor Costs for Retail Trade: Other Direct Selling Establishments (NAICS 454390) in the United States (IPUHN454390U100000000), retrieved from FRED.