Output per Worker for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247W001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.30
Year-over-Year Change
543.75%
Date Range
1/1/1988 - 1/1/2024
Summary
The Output per Worker for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States measures the productivity of workers in this industry. It is a key indicator for economists and policymakers to assess the efficiency and competitiveness of the wholesale petroleum sector.
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
This economic trend represents the inflation-adjusted output per worker, which is a measure of labor productivity, for businesses primarily engaged in the merchant wholesale distribution of petroleum and petroleum products. It provides insights into the operational efficiency and competitive dynamics of this important industry.
Methodology
The data is calculated by the U.S. Federal Reserve using production and employment figures reported by the wholesale trade industry.
Historical Context
This metric is widely used by economists, industry analysts, and policymakers to evaluate the health and competitiveness of the wholesale petroleum sector.
Key Facts
- The petroleum wholesale industry is a key component of the U.S. energy supply chain.
- Labor productivity in this sector has important implications for consumer fuel prices.
- Trends in output per worker can signal shifts in industry consolidation or technological change.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output per worker for businesses primarily engaged in the wholesale distribution of petroleum and petroleum products in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the operational efficiency and competitiveness of the wholesale petroleum industry, which is a crucial part of the U.S. energy supply chain.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using production and employment figures reported by the wholesale trade industry.
Q: How is this trend used in economic policy?
A: Economists, industry analysts, and policymakers use this metric to evaluate the health and competitiveness of the wholesale petroleum sector, which has important implications for consumer fuel prices and energy security.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis by the Federal Reserve, but there may be a lag of several weeks between the reference period and the release of the latest figures.
Related Trends
Labor Compensation for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246L020000000
Hourly Compensation for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246U121000000
Labor Productivity for Wholesale Trade: Drugs and Druggists' Sundries Merchant Wholesalers (NAICS 42421) in the United States
IPUGN42421L000000000
Labor Productivity for Wholesale Trade: Machinery, Equipment, and Supplies Merchant Wholesalers (NAICS 4238) in the United States
IPUGN4238L000000000
Hourly Compensation for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
IPUGN4231U120000000
Unit Labor Costs for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
IPUGN4232U100000000
Citation
U.S. Federal Reserve, Output per Worker for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States (IPUGN4247W001000000), retrieved from FRED.