Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States
IPUGN424210U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
157.54
Year-over-Year Change
72.72%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation for wholesale trade in drugs and druggists' sundries in the United States. It provides insight into labor costs and productivity in the pharmaceutical distribution 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 Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States tracks the average hourly labor costs, including wages and benefits, for companies engaged in the wholesale distribution of pharmaceutical and medical products. This metric is used to analyze workforce trends and industry competitiveness.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts monitor this trend to assess the economic health and labor market dynamics of the pharmaceutical supply chain.
Key Facts
- The series began in 1987.
- Wholesale drug distribution is a $530 billion industry in the U.S.
- Hourly compensation averaged $37.87 as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor costs, including wages and benefits, for companies engaged in the wholesale distribution of pharmaceutical and medical products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the labor market dynamics and cost structure of the pharmaceutical supply chain, which is important for assessing industry competitiveness and productivity.
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: Policymakers and industry analysts monitor this trend to assess the economic health and labor market conditions of the pharmaceutical distribution industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Hourly Compensation for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 424210) in the United States (IPUGN424210U120000000), retrieved from FRED.