Labor Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 812210) in the United States
IPUUN812210L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,011.41
Year-over-Year Change
38.63%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for funeral homes and funeral services in the United States. It provides insights into the costs and economic conditions within the funeral industry.
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): Funeral Homes and Funeral Services (NAICS 812210) trend tracks the average hourly earnings of workers in the funeral services industry. This metric is useful for understanding wage dynamics and labor costs in this sector.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this trend to monitor labor market conditions and cost pressures in the funeral services industry.
Key Facts
- Funeral homes and funeral services are classified under NAICS code 812210.
- The funeral services industry employs over 130,000 workers in the U.S.
- Labor costs account for a significant portion of overall operating expenses for funeral homes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly labor compensation for workers in the funeral homes and funeral services industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor market conditions and cost pressures within the funeral services industry, which is important for understanding economic factors affecting this sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to monitor labor market conditions and cost pressures in the funeral services industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Labor Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 812210) in the United States (IPUUN812210L020000000), retrieved from FRED.