Labor Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 812210) in the United States
IPUUN812210U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.79
Year-over-Year Change
38.63%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation, including wages and benefits, for funeral homes and funeral services in the United States. It provides insight into the cost drivers and employment dynamics of this key service 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) in the United States series tracks the total compensation paid to workers in this industry, a key indicator of economic activity and cost structures.
Methodology
The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Historical Context
This trend is used by economists and policymakers to analyze labor market conditions and cost pressures in the funeral services industry.
Key Facts
- The funeral services industry employs over 130,000 workers in the U.S.
- Labor costs account for over 60% of total expenses for funeral homes.
- Compensation has grown by over 20% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, paid to 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 metric provides insight into the labor market and cost structures of the funeral services industry, which is an important component of the broader consumer services sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to analyze labor market conditions and cost pressures in the funeral services industry, which can inform policy decisions related to consumer services and employment.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a delay of approximately two months from the end of the reference period.
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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 (IPUUN812210U110000000), retrieved from FRED.