Employer's Cost for Fringe Benefits for Scientific Research and Development Services, All Establishments, Employer Firms
This dataset tracks employer's cost for fringe benefits for scientific research and development services, all establishments, employer firms over time.
Latest Value
24336.00
Year-over-Year Change
98.87%
Date Range
1/1/2012 - 1/1/2022
Summary
This trend measures the employer's cost for fringe benefits provided to employees in the scientific research and development services industry. It is an important indicator of labor costs and industry compensation practices.
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 Employer's Cost for Fringe Benefits for Scientific Research and Development Services, All Establishments, Employer Firms metric tracks the average cost to employers of providing non-wage compensation such as health insurance, retirement plans, and paid leave for workers in this specialized service sector.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Historical Context
This trend helps inform economic analysis of labor market dynamics and productivity in the research and development industry.
Key Facts
- Covers over 5 million private industry employees in the U.S.
- Measured quarterly since 2004
- Provides insight into non-wage labor costs
FAQs
Q: What does this economic trend measure?
A: This trend measures the average cost to employers of providing non-wage compensation such as health insurance, retirement plans, and paid leave for workers in the scientific research and development services industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market dynamics and compensation practices in a critical sector of the economy, which can inform economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Q: How is this trend used in economic policy?
A: This trend helps economists and policymakers understand labor cost pressures and productivity in the research and development industry, which is important for assessing the state of innovation and competitiveness.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag, and covers a broad sample of private industry establishments.
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Citation
U.S. Federal Reserve, Employer's Cost for Fringe Benefits for Scientific Research and Development Services, All Establishments, Employer Firms (EXPECFEF5417ALLEST), retrieved from FRED.