Labor Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,331.64
Year-over-Year Change
97.13%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for wholesale trade in drugs and druggists' sundries in the United States. It provides insights into the labor costs and productivity of this key industry.
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 Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States tracks the total employee compensation, including wages and benefits, for this wholesale trade subsector. It serves as an important indicator of labor market conditions and cost pressures in the pharmaceutical supply chain.
Methodology
The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
This metric is closely monitored by policymakers and industry analysts to assess the health and competitiveness of the pharmaceutical wholesale market.
Key Facts
- The series dates back to 2007.
- Compensation accounts for over 70% of total costs in this industry.
- The U.S. pharmaceutical wholesale market is valued at over $500 billion annually.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, for wholesale trade of drugs and druggists' sundries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and cost pressures within the pharmaceutical supply chain, which is crucial for industry analysts and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by policymakers and industry analysts to assess the health and competitiveness of the pharmaceutical wholesale market.
Q: Are there update delays or limitations?
A: The data is released on a regular basis with minimal delays, providing timely insights into this important industry.
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Citation
U.S. Federal Reserve, Labor Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States (IPUGN424210L020000000), retrieved from FRED.