Labor Compensation for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States
IPUGN4245L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,205.36
Year-over-Year Change
24.97%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for wholesale trade in farm product raw material merchant wholesalers in the United States. It provides insights into wage dynamics and labor costs within this specific industry segment.
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: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States trend represents the average hourly earnings of workers in this wholesale trade industry. It is an important indicator of labor market conditions and industry-specific compensation trends.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
This trend is closely monitored by economists, policymakers, and industry analysts to assess the financial health and competitiveness of the agricultural wholesale sector.
Key Facts
- This trend has shown steady growth over the past decade.
- Wholesale trade in farm products accounts for a significant portion of the U.S. agricultural economy.
- Monitoring labor costs in this industry can provide insights into inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation for workers in the wholesale trade of farm product raw materials in the United States, under the NAICS 4245 industry classification.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into wage dynamics and labor costs within the agricultural wholesale sector, which is an important indicator of industry performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists, policymakers, and industry analysts to assess the financial health and competitiveness of the agricultural wholesale sector, which can inform economic policies and decisions.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the trend may not capture all nuances of the labor market within this specific industry segment.
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Output per Worker for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States
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Hours Worked for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
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Labor Compensation for Wholesale Trade: Miscellaneous Durable Goods Merchant Wholesalers (NAICS 4239) in the United States
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Citation
U.S. Federal Reserve, Labor Compensation for Wholesale Trade: Farm Product Raw Material Merchant Wholesalers (NAICS 4245) in the United States (IPUGN4245L020000000), retrieved from FRED.