Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States
IPUPN561510L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,281.10
Year-over-Year Change
79.55%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures labor compensation for administrative and support and waste management and remediation services in the U.S. travel agency industry. It provides insights into employee earnings and productivity within this key service 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 Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States series tracks the total employee compensation, including wages and benefits, for workers in the U.S. travel agency industry. This metric is a valuable indicator of economic health and workforce trends within this service-oriented sector.
Methodology
The data is collected through surveys of U.S. businesses and calculated by the Bureau of Labor Statistics.
Historical Context
This labor compensation trend is used by economists and policymakers to evaluate the financial state and growth prospects of the travel services industry.
Key Facts
- The travel agency industry is a major U.S. employer, with over 300,000 jobs.
- Compensation has grown by over 20% in the last decade, outpacing inflation.
- Travel agencies generate over $100 billion in annual revenue for the U.S. economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, for workers employed in the U.S. travel agency industry (NAICS 561510).
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial health, productivity, and growth prospects of the travel services sector, which is a key component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and calculated by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this labor compensation trend to evaluate the state of the travel services industry and inform decisions related to economic and workforce development.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States (IPUPN561510L020000000), retrieved from FRED.