Total Revenue for Taxi Service, Establishments Subject to Federal Income Tax, Employer Firms
REVEF48531TAXABL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,721.00
Year-over-Year Change
891.44%
Date Range
1/1/2009 - 1/1/2022
Summary
This economic trend measures the total revenue generated by taxi service establishments subject to federal income tax and classified as employer firms. It provides insights into the financial performance and economic activity of the taxi 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 Total Revenue for Taxi Service, Establishments Subject to Federal Income Tax, Employer Firms data series tracks the total operating revenue of businesses in the taxi industry that are required to pay federal income taxes and have at least one employee. This metric is used by economists and policymakers to analyze the financial health and economic trends within the taxi transportation sector.
Methodology
The data is collected by the U.S. Census Bureau through surveys of business establishments.
Historical Context
This trend is relevant for understanding the economic conditions and market dynamics affecting the taxi industry, which has important implications for transportation policy and urban planning.
Key Facts
- The taxi industry generated over $22 billion in total revenue in 2019.
- Revenue for taxi services has declined since the rise of ride-sharing platforms.
- The number of taxi establishments has decreased by 30% since 2012.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by taxi service establishments that are subject to federal income tax and classified as employer firms, providing insights into the financial performance of the taxi industry.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the economic conditions and market dynamics affecting the taxi industry, which has important implications for transportation policy and urban planning.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of business establishments.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the financial health and economic trends within the taxi transportation sector, which informs decision-making related to transportation infrastructure, regulations, and urban planning.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and accuracy of the Census Bureau's business surveys, and may have a delay of several months before being published.
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Citation
U.S. Federal Reserve, Total Revenue for Taxi Service, Establishments Subject to Federal Income Tax, Employer Firms (REVEF48531TAXABL), retrieved from FRED.