Labor Productivity for Other Services (Except Public Administration): Personal Care Services (NAICS 8121) in the United States
IPUUN8121L001000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.10
Year-over-Year Change
-66.67%
Date Range
1/1/1988 - 1/1/2022
Summary
This economic trend measures labor productivity in the U.S. personal care services industry (NAICS 8121). It is a key indicator of industry efficiency and competitiveness.
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
Labor productivity is a measure of economic output per hour worked. Tracking productivity in specific industries provides insights into their competitive dynamics and potential for growth.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and employment inputs.
Historical Context
Policymakers and industry analysts use this metric to assess the health and competitiveness of the personal care services sector.
Key Facts
- Personal care services employ over 1.3 million workers in the U.S.
- Productivity in this industry has risen by over 20% since 2015.
- The personal care sector accounts for nearly 1% of total U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity in the U.S. personal care services industry, which includes establishments that provide haircuts, beauty treatments, and other personal grooming services.
Q: Why is this trend relevant for users or analysts?
A: Tracking productivity in the personal care services sector provides insights into the industry's competitiveness, efficiency, and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and employment inputs.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to assess the health and competitiveness of the personal care services sector, which is an important part of the broader services economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Labor Productivity for Other Services (Except Public Administration): Personal Care Services (NAICS 8121) in the United States (IPUUN8121L001000000), retrieved from FRED.