Labor Productivity for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States
IPUUN8111L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.86
Year-over-Year Change
-0.19%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity in the automotive repair and maintenance industry, a key indicator of efficiency and competitiveness within the broader services 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 productivity index tracks changes in the ratio of real output to hours worked, providing insights into the productivity and competitiveness of the automotive repair and maintenance industry. This metric is closely watched by economists and policymakers to assess the health and evolution of the services sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and national accounts data.
Historical Context
Productivity trends in this industry offer valuable context for understanding broader service sector dynamics and can inform economic and regulatory decision-making.
Key Facts
- The automotive repair and maintenance industry accounts for over $100 billion in annual economic activity.
- Productivity growth in this industry is a key driver of competitiveness and profitability.
- Improving labor productivity can help offset rising labor costs and support industry expansion.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the automotive repair and maintenance industry, which is a key indicator of efficiency and competitiveness within the broader services sector.
Q: Why is this trend relevant for users or analysts?
A: Productivity trends in the automotive repair and maintenance industry offer valuable insights into the health and evolution of the broader services sector, which is a critical driver of economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Productivity trends in this industry can inform economic and regulatory decision-making, as they provide insights into the competitiveness and growth potential of the services sector.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and potential revisions common to many economic indicators.
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Citation
U.S. Federal Reserve, Labor Productivity for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States (IPUUN8111L000000000), retrieved from FRED.