Hours Worked for Information: Data Processing, Hosting, and Related Services (NAICS 518) in the United States
IPUJN518L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
911.50
Year-over-Year Change
87.35%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total number of hours worked in the Information industry's Data Processing, Hosting, and Related Services sector in the United States. It provides insights into the labor activity and productivity of this important technology-driven 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 Hours Worked for Information: Data Processing, Hosting, and Related Services (NAICS 518) in the United States trend tracks the total number of hours worked by employees in this subsector of the Information industry. This metric helps economists and policymakers analyze labor market conditions, productivity, and industry growth within the broader technology and digital services landscape.
Methodology
The data is collected through surveys of businesses and establishments in this NAICS industry code.
Historical Context
This trend is used to inform economic and workforce policies, as well as business and investment decisions related to the technology and information services sectors.
Key Facts
- The Information: Data Processing, Hosting, and Related Services sector employs over 1 million workers in the U.S.
- This industry has seen steady growth in hours worked over the past decade.
- Trends in this metric help track the digitization and automation of business services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the Data Processing, Hosting, and Related Services subsector of the Information industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions, productivity, and growth within the technology and digital services industry, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in this NAICS industry code.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic and workforce policies, as well as business and investment decisions related to the technology and information services sectors.
Q: Are there update delays or limitations?
A: The data is typically updated on a monthly basis, with some potential for minor delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Hours Worked for Information: Data Processing, Hosting, and Related Services (NAICS 518) in the United States (IPUJN518L200000000), retrieved from FRED.