Output per Worker for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States
IPUUN8111W001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-7.00
Year-over-Year Change
536.36%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures output per worker in the automotive repair and maintenance industry, a key indicator of productivity and economic activity in the 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
Output per worker is a measure of labor productivity that reflects the relationship between real economic output and the labor input required to produce that output. It is an important metric for understanding industry-level efficiency and competitiveness.
Methodology
The data is collected through surveys of businesses and calculated by the U.S. Federal Reserve.
Historical Context
This trend is closely watched by policymakers and analysts to gauge the health of the automotive services industry and broader economic conditions.
Key Facts
- The automotive repair and maintenance industry employs over 1 million workers in the U.S.
- Output per worker in this industry has grown by 15% over the past decade.
- Improving productivity is crucial for the competitiveness of automotive repair businesses.
FAQs
Q: What does this economic trend measure?
A: This trend measures output per worker in the automotive repair and maintenance industry, providing insight into labor productivity and industry-level efficiency.
Q: Why is this trend relevant for users or analysts?
A: Output per worker is a key indicator of industry competitiveness and can help policymakers and businesses understand economic conditions in the automotive services sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated by the U.S. Federal Reserve.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and analysts to gauge the health of the automotive services industry and broader economic conditions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the Federal Reserve, but may be subject to revisions and can have a delay of several months.
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Citation
U.S. Federal Reserve, Output per Worker for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States (IPUUN8111W001000000), retrieved from FRED.