Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
IPUGN42421L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.59
Year-over-Year Change
18.47%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor productivity for wholesale trade of drugs and druggists' sundries in the United States. It is an important indicator of industry efficiency and competitiveness.
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 Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States tracks the inflation-adjusted output per hour worked in this specific wholesale industry. It provides insights into productivity trends and underlying drivers of this sector's economic performance.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and national accounts data.
Historical Context
This productivity metric is closely monitored by policymakers, analysts, and industry stakeholders to assess the competitiveness and efficiency of the pharmaceutical wholesale trade.
Key Facts
- The base year for this index is 2012 = 100.
- Wholesale trade accounts for over $6 trillion in annual U.S. economic activity.
- The pharmaceutical wholesale industry employs over 400,000 workers nationwide.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity, or output per hour worked, for the wholesale trade of drugs and druggists' sundries in the United States.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insights into the efficiency and competitiveness of the pharmaceutical wholesale industry, which is an important part of the U.S. healthcare supply chain.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using establishment surveys and national accounts data.
Q: How is this trend used in economic policy?
A: This productivity measure is closely monitored by policymakers, analysts, and industry stakeholders to assess the overall competitiveness and efficiency of the pharmaceutical wholesale trade sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States (IPUGN42421L000000000), retrieved from FRED.