Labor Compensation for Other Services (Except Public Administration): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 812320) in the United States
IPUUN812320U110000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
96.42
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 (except coin-operated) in the United States. It provides insights into wage dynamics and productivity in the personal 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 Labor Compensation for Other Services (Except Public Administration): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 812320) trend tracks wages and salaries paid to workers in this personal services sector. It is a key indicator of industry competitiveness and the broader health of the services economy.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program.
Historical Context
This trend is monitored by policymakers, economists, and industry analysts to evaluate labor market conditions and productivity in the personal services sector.
Key Facts
- The personal services sector accounts for over 1.2 million U.S. jobs.
- Drycleaning and laundry services made up 35% of personal services employment in 2021.
- Wages in this industry have risen by 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and salaries, for workers in the drycleaning and laundry services industry (except coin-operated) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market dynamics and productivity in the personal services sector, which is an important component of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Quarterly Census of Employment and Wages (QCEW) program.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts monitor this trend to evaluate labor market conditions and productivity in the personal services sector.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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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 (IPUUN812320U110000000), retrieved from FRED.