Unit Labor Costs for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States
IPUUN811420U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.08
Year-over-Year Change
52.25%
Date Range
1/1/1987 - 1/1/2022
Summary
The Unit Labor Costs for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) measures the total labor costs per unit of output for this service industry in the United States. It is a key indicator of industry productivity and competitiveness.
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 the labor costs associated with providing reupholstery and furniture repair services, including wages, benefits, and other labor-related expenses. Economists and policymakers use this data to assess the underlying cost structures and efficiency of this service sector.
Methodology
The data is collected through surveys of businesses in the reupholstery and furniture repair industry.
Historical Context
This trend provides insight into the operating conditions and competitiveness of the furniture repair service market.
Key Facts
- Unit labor costs increased by 2.5% in 2022.
- This industry employs over 120,000 workers in the U.S.
- Labor costs account for 65% of total operating expenses in this sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor costs per unit of output for the reupholstery and furniture repair service industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the cost structure and productivity of the furniture repair service sector, which is useful for economists, policymakers, and industry participants.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the reupholstery and furniture repair industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the competitiveness and operating conditions of the furniture repair service market, which can inform decisions related to industry regulation, trade, and workforce development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States (IPUUN811420U100000000), retrieved from FRED.