Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
477.47
Year-over-Year Change
14.13%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the number of hours worked by employees in the wholesale trade of drugs and druggists' sundries in the United States. It provides insights into labor utilization and production capacity within 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 Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) series tracks the total number of hours worked by employees in this wholesale trade subsector. It serves as an important indicator of industry activity and productivity, helping economists and policymakers assess the overall health of the pharmaceutical supply chain.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by industry analysts, policymakers, and economists to gauge the performance and outlook of the wholesale pharmaceutical market.
Key Facts
- The wholesale drugs and druggists' sundries industry employs over 400,000 workers in the U.S.
- Wholesale trade accounts for over 6% of total U.S. GDP.
- Pharmaceutical products are the largest category of wholesale trade in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the wholesale trade of drugs and druggists' sundries (NAICS 424210) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into labor utilization and production capacity within the wholesale pharmaceutical industry, helping economists and policymakers assess the overall health of the supply chain.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by industry analysts, policymakers, and economists to gauge the performance and outlook of the wholesale pharmaceutical market, which is a critical component of the overall healthcare system.
Q: Are there update delays or limitations?
A: There may be some delay in the release of this data, as it is collected through business surveys. Additionally, the data may not capture all aspects of the wholesale pharmaceutical industry, as it is limited to the NAICS 424210 subsector.
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Citation
U.S. Federal Reserve, Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States (IPUGN424210L200000000), retrieved from FRED.