Hourly Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 81221) in the United States
IPUUN81221U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.30
Year-over-Year Change
-4250.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures hourly compensation for funeral home and funeral service workers in the United States. It provides insights into labor costs and productivity in the funeral services 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 Hourly Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 81221) in the United States metric tracks the average hourly wage and benefits paid to workers in the funeral home and funeral services industry. It is a key indicator of labor costs and workforce dynamics in this sector.
Methodology
The data is collected through surveys of businesses and establishments in the funeral services industry.
Historical Context
This trend is used by economists and policymakers to assess labor market conditions and productivity in the funeral services industry.
Key Facts
- Funeral services is a $20 billion industry in the U.S.
- Over 130,000 workers are employed in the funeral services sector.
- Hourly compensation in the funeral services industry has risen by 25% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wages and benefits paid to workers in the funeral home and funeral services industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and workforce dynamics in the funeral services industry, which is an important indicator of productivity and market conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in the funeral services industry.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess labor market conditions and productivity in the funeral services industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month lag.
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Citation
U.S. Federal Reserve, Hourly Compensation for Other Services (Except Public Administration): Funeral Homes and Funeral Services (NAICS 81221) in the United States (IPUUN81221U121000000), retrieved from FRED.