Labor Productivity for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 81142) in the United States
IPUUN81142L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.81
Year-over-Year Change
-1.33%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic trend measures labor productivity in the reupholstery and furniture repair industry (NAICS 81142) in the United States. It is a key indicator of efficiency and competitiveness within this service 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
Labor productivity is a measure of economic output per hour worked. This data series tracks productivity trends for businesses engaged in reupholstery and furniture repair, providing insights into the efficiency and competitiveness of this services subsector.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on establishment surveys.
Historical Context
This productivity metric is used by economists and policymakers to assess the health and competitiveness of the furniture repair services industry.
Key Facts
- Reupholstery and furniture repair is a $5 billion industry in the U.S.
- Productivity in this sector has increased by 15% over the past decade.
- Small businesses account for over 80% of employment in this industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the reupholstery and furniture repair industry (NAICS 81142) in the United States. It tracks output per hour worked in this service sector.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insights into the efficiency and competitiveness of the furniture repair services industry, which is an important part of the broader manufacturing and services sectors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on establishment surveys.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this productivity data to assess the health and competitiveness of the furniture repair services industry, which informs economic and industry policies.
Q: Are there update delays or limitations?
A: There may be lags of several months in data availability, and the series only covers the reupholstery and furniture repair industry specifically.
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IPUUN81142T300000000
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Citation
U.S. Federal Reserve, Labor Productivity for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 81142) in the United States (IPUUN81142L000000000), retrieved from FRED.