Labor Compensation for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States
IPUUN81292L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
457.57
Year-over-Year Change
-32.29%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for the photofinishing industry (NAICS 81292) in the United States. It provides insight into the cost of labor for this service-based sector, which is an important indicator of broader economic conditions.
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 Compensation for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States series tracks the total compensation paid to workers in the photofinishing industry. This includes wages, salaries, and benefits. The data is used by economists and policymakers to analyze labor market trends and productivity in the service sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
This labor compensation trend is a key input for understanding service sector economic performance and guiding related policy decisions.
Key Facts
- Photofinishing is a niche service industry within the broader other services sector.
- Labor costs account for a significant portion of total industry expenses.
- Trends in this metric can signal changes in service sector employment and wages.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages, salaries, and benefits, paid to workers in the photofinishing industry (NAICS 81292) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This labor compensation trend provides insights into the cost of labor and productivity in the service sector, which is useful for economists and policymakers analyzing broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers in the photofinishing industry.
Q: How is this trend used in economic policy?
A: This labor compensation trend is used by economists and policymakers to understand service sector performance and inform decisions related to employment, wages, and productivity.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the latest data, as it is dependent on the survey collection and processing timeline of the Bureau of Labor Statistics.
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Citation
U.S. Federal Reserve, Labor Compensation for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States (IPUUN81292L020000000), retrieved from FRED.