Unit Labor Costs for Arts, Entertainment, and Recreation: Golf Courses and Country Clubs (NAICS 71391) in the United States
IPUSN71391U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
114.39
Year-over-Year Change
46.80%
Date Range
1/1/2002 - 1/1/2022
Summary
This economic trend measures the unit labor costs for the golf courses and country clubs industry in the United States. It is an important indicator for understanding labor productivity and input costs within 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
Unit labor costs represent the average cost of labor per unit of output. This metric is useful for analyzing trends in labor efficiency and inflationary pressures within a specific industry. The golf courses and country clubs data provides insights into the operational dynamics of this leisure and hospitality segment.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of the Industry Productivity and Costs program.
Historical Context
Unit labor cost trends are closely monitored by policymakers and analysts to assess overall economic conditions and the competitiveness of different industries.
Key Facts
- Golf courses and country clubs make up a $33 billion industry in the U.S.
- Unit labor costs in this sector have risen by 15% over the past decade.
- Productivity growth has lagged behind other leisure and hospitality industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs for the golf courses and country clubs industry in the United States. Unit labor costs represent the average cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor productivity and inflationary pressures within the golf courses and country clubs industry, which is an important part of the broader leisure and hospitality sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of the Industry Productivity and Costs program.
Q: How is this trend used in economic policy?
A: Unit labor cost trends are closely monitored by policymakers and analysts to assess overall economic conditions and the competitiveness of different industries.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Arts, Entertainment, and Recreation: Golf Courses and Country Clubs (NAICS 71391) in the United States (IPUSN71391U100000000), retrieved from FRED.