Hourly Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States
IPUUN811420U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.80
Year-over-Year Change
54.02%
Date Range
1/1/1987 - 1/1/2024
Summary
The Hourly Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States measures labor costs in the furniture repair industry. This metric is a key indicator of economic activity and productivity in this service 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 series tracks changes in the hourly compensation paid to workers in the furniture repair and reupholstery industry, including wages, salaries, and benefits. It provides insights into the costs and pricing pressures faced by businesses in this segment of the service economy.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this metric to assess inflationary pressures and labor market conditions in the furniture repair industry.
Key Facts
- This series is published quarterly by the U.S. Bureau of Labor Statistics.
- The furniture repair industry employed over 72,000 workers in the U.S. as of 2020.
- Hourly compensation in this sector has risen by 10% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the hourly compensation, including wages and benefits, paid to workers in the furniture repair and reupholstery industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and pricing pressures in the furniture repair service sector, which is an important indicator of economic activity and productivity.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess inflationary pressures and labor market conditions in the furniture repair industry.
Q: Are there update delays or limitations?
A: This series is published quarterly with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Hourly Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States (IPUUN811420U120000000), retrieved from FRED.