Unit Labor Costs for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States
IPUGN4249U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
153.66
Year-over-Year Change
46.65%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures unit labor costs for wholesale trade of miscellaneous nondurable goods in the United States. It provides insights into productivity and labor compensation for this key 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
The Unit Labor Costs for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States metric tracks changes in the cost of labor required to produce one unit of output. It is a key indicator of inflationary pressures and labor market dynamics in this wholesale trade industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of productivity and hourly compensation.
Historical Context
This metric is closely monitored by economists and policymakers to assess the broader state of the economy and inform decisions.
Key Facts
- Unit labor costs for this sector rose 3.2% in 2021.
- Nondurable goods wholesale accounts for over $1 trillion in annual revenue.
- This metric is one component of the Federal Reserve's labor cost index.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in the cost of labor required to produce one unit of output for wholesale trade of miscellaneous nondurable goods in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into productivity and labor market dynamics in a key sector, helping to assess inflationary pressures and the broader state of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of productivity and hourly compensation.
Q: How is this trend used in economic policy?
A: This metric is closely monitored by economists and policymakers to inform decisions at the Federal Reserve and other institutions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
Related Trends
Real Sectoral Output for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244T011000000
Labor Productivity for Wholesale Trade: Petroleum and Petroleum Products Merchant Wholesalers (NAICS 4247) in the United States
IPUGN4247L001000000
Labor Compensation for Wholesale Trade: Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers (NAICS 4231) in the United States
IPUGN4231L020000000
Labor Compensation for Wholesale Trade: Furniture and Home Furnishing Merchant Wholesalers (NAICS 4232) in the United States
IPUGN4232L021000000
Hours Worked for Wholesale Trade: Grocery and Related Product Wholesalers (NAICS 4244) in the United States
IPUGN4244L010000000
Sectoral Output for Wholesale Trade: Chemical and Allied Products Merchant Wholesalers (NAICS 4246) in the United States
IPUGN4246T300000000
Citation
U.S. Federal Reserve, Unit Labor Costs for Wholesale Trade: Miscellaneous Nondurable Goods Merchant Wholesalers (NAICS 4249) in the United States (IPUGN4249U100000000), retrieved from FRED.