Labor Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 81221) in the United States
IPUUN81221L020000000 • 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 a key component of the services sector and can inform policymakers and analysts about industry-specific labor market dynamics.
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 81221) in the United States is an important economic indicator that tracks employee compensation, including wages and benefits, for this specific industry. It offers valuable data for understanding labor market conditions and trends within the funeral services sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of their Producer Price Index program.
Historical Context
This trend is useful for policymakers, industry analysts, and economists to assess the state of the funeral services labor market and its potential impact on the broader economy.
Key Facts
- The funeral services industry employs over 130,000 people in the United States.
- Labor costs account for a significant portion of overall operating expenses for funeral homes.
- Trends in funeral services labor compensation can signal changes in industry profitability and pricing.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and benefits, for employees in the funeral homes and funeral services industry (NAICS 81221) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into labor market conditions and dynamics within the funeral services sector, which can inform business decisions, industry analysis, and economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of their Producer Price Index program.
Q: How is this trend used in economic policy?
A: Policymakers, industry analysts, and economists can use this trend to assess the state of the funeral services labor market and its potential impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in publication due to the data collection process.
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Citation
U.S. Federal Reserve, Labor Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 81221) in the United States (IPUUN81221L020000000), retrieved from FRED.