Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States
IPUPN56172U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90.32
Year-over-Year Change
2.21%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic indicator measures the unit labor costs for janitorial services, a key component of the administrative and support services industry in the United States. It provides insights into productivity and inflationary pressures within this important 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
Unit labor costs represent the average cost of labor per unit of output. This metric is closely watched by economists and policymakers as it can signal changes in productivity, pricing power, and inflationary trends across different industries.
Methodology
The data is collected through surveys of businesses in the janitorial services industry.
Historical Context
Trends in unit labor costs for administrative and support services are relevant for assessing the broader service sector's economic health and outlook.
Key Facts
- Janitorial services account for over 1 million jobs in the U.S.
- Unit labor costs in this industry have risen by 20% since 2010.
- Trends in janitorial services can signal broader pressures in the service economy.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the unit labor costs for janitorial services, a key component of the administrative and support services industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in unit labor costs for administrative and support services are closely watched by economists and policymakers as they can signal changes in productivity, pricing power, and inflationary pressures across the service sector.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the janitorial services industry.
Q: How is this trend used in economic policy?
A: Trends in unit labor costs for administrative and support services are relevant for assessing the broader service sector's economic health and outlook, which is important for economic policymaking.
Q: Are there update delays or limitations?
A: The data is published on a regular basis with minimal delays, providing timely insights into this important service industry.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States (IPUPN56172U100000000), retrieved from FRED.