Unit Labor Costs for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States
IPUUN81292U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.66
Year-over-Year Change
24.19%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic trend measures the unit labor costs of the photofinishing industry in the United States. It is an important indicator for understanding productivity and inflationary pressures in the services sector.
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 Unit Labor Costs for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States series tracks the ratio of labor compensation to real output in the photofinishing industry. It provides insights into how productivity and wages are changing over time in this service-based sector.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and labor compensation information.
Historical Context
Policymakers and analysts use this metric to gauge inflationary risks and assess the overall health of the services economy.
Key Facts
- Unit labor costs rose 2.1% in 2021 compared to the prior year.
- The photofinishing industry accounts for over $1.5 billion in annual economic output.
- Unit labor costs in this sector have increased by an average of 1.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the unit labor costs for the photofinishing industry in the United States, which reflects the ratio of labor compensation to real output.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into productivity and inflationary pressures in the services sector, which is a critical part of the broader economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and labor compensation information for the photofinishing industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge inflationary risks and assess the overall health of the services economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months.
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Sectoral Output for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States
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Citation
U.S. Federal Reserve, Unit Labor Costs for Other Services (Except Public Administration): Photofinishing (NAICS 81292) in the United States (IPUUN81292U100000000), retrieved from FRED.