Hours Worked for Management of Companies and Enterprises (NAICS 55) in the United States
IPUON55L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.00
Year-over-Year Change
-131.25%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the total number of hours worked by employees in the management of companies and enterprises sector in the United States. It provides insights into the activity and labor utilization of this key 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 Management of Companies and Enterprises (NAICS 55) in the United States tracks the total number of hours worked by employees in companies that primarily engage in the management of other companies and enterprises. This metric is used by economists and policymakers to assess labor market conditions and production capacity in the management industry.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding economic growth, productivity, and employment trends in the management consulting and corporate administration sectors.
Key Facts
- The management of companies and enterprises sector accounts for over 2 million jobs in the U.S.
- Hours worked in this sector have increased by 15% over the past decade.
- The management industry is a key driver of professional services and consulting activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in companies that primarily engage in the management of other companies and enterprises in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the activity and labor utilization of the management consulting and corporate administration sectors, which are key drivers of economic growth and professional services activity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess labor market conditions, production capacity, and growth in the management industry, which has implications for broader economic performance.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the reference period and data publication by the Federal Reserve.
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Citation
U.S. Federal Reserve, Hours Worked for Management of Companies and Enterprises (NAICS 55) in the United States (IPUON55L201000000), retrieved from FRED.