Labor Compensation for Other Services (Except Public Administration): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 812320) in the United States
IPUUN812320L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,563.26
Year-over-Year Change
-6.72%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for drycleaning and laundry services in the U.S., excluding coin-operated establishments. It provides insights into wage and productivity dynamics within this 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): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 812320) trend tracks changes in the total labor costs, including wages and benefits, for this specific service subsector. It is a valuable indicator of broader employment and earnings conditions in the broader service economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics as part of its industry-level productivity and cost measures.
Historical Context
This metric is used by economists and policymakers to monitor labor market conditions and inflationary pressures in the services sector.
Key Facts
- Covers over 280,000 workers in the U.S. drycleaning and laundry industry.
- Labor costs account for approximately 75% of total industry revenue.
- Trends in this metric help gauge service sector wage and productivity dynamics.
FAQs
Q: What does this economic trend measure?
A: This trend measures total labor compensation, including wages and benefits, for the drycleaning and laundry services industry in the United States, excluding coin-operated establishments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into employment conditions and inflationary pressures within the broader service sector of the U.S. economy.
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 its industry-level productivity and cost measures.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess labor market conditions and inflationary dynamics in the services industry, which is a key component of the U.S. economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a lag of approximately two months between the reference period and publication.
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Citation
U.S. Federal Reserve, Labor Compensation for Other Services (Except Public Administration): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 812320) in the United States (IPUUN812320L020000000), retrieved from FRED.