Labor Compensation for Other Services (Except Public Administration): Drycleaning and Laundry Services (Except Coin-Operated) (NAICS 81232) in the United States
IPUUN81232U110000000 • 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 the labor compensation for drycleaning and laundry services in the United States, excluding coin-operated establishments. It provides insights into the wages and costs associated with 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 81232) trend tracks the total labor costs, including wages and benefits, for businesses in this specific service sector. It is a key indicator of industry profitability and workforce trends.
Methodology
The data is collected through surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is used by economists and industry analysts to assess the economic health and competitiveness of the drycleaning and laundry services sector.
Key Facts
- Drycleaning and laundry services employ over 380,000 workers in the U.S.
- Labor costs account for over 60% of total operating expenses in this industry.
- Wage growth in this sector has lagged the overall U.S. average in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, for businesses 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 metric provides insight into the economic health and competitiveness of the drycleaning and laundry services sector, which is an important part of the broader service industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and industry analysts use this metric to assess the labor market conditions and cost pressures faced by businesses in the drycleaning and laundry services sector.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be lags of several weeks between the reference period and the release of the latest figures.
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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 81232) in the United States (IPUUN81232U110000000), retrieved from FRED.