Labor Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States
IPUUN811420L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.10
Year-over-Year Change
-134.75%
Date Range
1/1/1988 - 1/1/2024
Summary
This trend measures labor compensation in the reupholstery and furniture repair industry, which is an important indicator of economic activity and employment in the broader services 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 Labor Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) series tracks changes in total compensation, including wages and benefits, paid to workers in this industry. It provides insights into industry profitability and cost pressures.
Methodology
The data is collected through surveys of businesses in the reupholstery and furniture repair industry.
Historical Context
This metric is used by economists and policymakers to assess the health of the services sector and broader economic conditions.
Key Facts
- This industry employs over 100,000 workers in the U.S.
- Labor costs account for nearly 50% of revenue in this sector.
- The reupholstery and furniture repair industry grew by 3.2% in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures changes in total labor compensation, including wages and benefits, paid to workers in the reupholstery and furniture repair industry (NAICS 811420).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into industry profitability, cost pressures, and the overall health of the services sector, which is important for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the reupholstery and furniture repair industry.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the state of the services sector and broader economic conditions, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States (IPUUN811420L021000000), retrieved from FRED.