Hourly Compensation for Other Services (Except Public Administration): Reupholstery and Furniture Repair (NAICS 811420) in the United States
Percent Change from Year Ago
IPUUN811420U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.50
Year-over-Year Change
140.74%
Date Range
1/1/1988 - 1/1/2024
Summary
The 'Percent Change from Year Ago' measures the annual percent change in an economic indicator, providing insight into long-term trends. This metric is critical for policymakers and analysts assessing the pace of economic growth or recovery.
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 data series tracks the year-over-year percent change for a given indicator, such as industrial production or employment. The year-ago comparison helps identify sustained shifts in economic conditions rather than short-term volatility.
Methodology
The percent change is calculated by comparing the current period's value to the same period one year prior.
Historical Context
Policymakers and market analysts use this metric to monitor the trajectory of the economy and make informed decisions.
Key Facts
- Data available monthly since 1972.
- Helps identify sustained shifts in economic conditions.
- Widely used by policymakers and analysts.
FAQs
Q: What does this economic trend measure?
A: The 'Percent Change from Year Ago' measures the annual percent change in an economic indicator, providing insight into long-term trends.
Q: Why is this trend relevant for users or analysts?
A: This metric is critical for policymakers and analysts assessing the pace of economic growth or recovery, as it helps identify sustained shifts in economic conditions.
Q: How is this data collected or calculated?
A: The percent change is calculated by comparing the current period's value to the same period one year prior.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to monitor the trajectory of the economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is available monthly since 1972, with no significant update delays or limitations.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUUN811420U121000000), retrieved from FRED.