Employment for Administrative and Support and Waste Management and Remediation Services: Facilities Support Services (NAICS 56121) in the United States
IPUPN56121W201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.50
Year-over-Year Change
-425.00%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures employment in the Facilities Support Services industry, a subset of the broader Administrative and Support and Waste Management and Remediation Services sector. It provides insights into a critical component of the U.S. service economy.
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 Facilities Support Services industry includes companies that provide a variety of support services to businesses and organizations, such as janitorial, security, landscaping, and other facility operations. This metric serves as an indicator of activity and labor demand in this important service segment.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to gauge the health of the service sector and overall economic conditions.
Key Facts
- Facilities Support Services accounts for over 2 million U.S. jobs.
- Employment in this sector has grown by 10% over the past 5 years.
- The industry is highly sensitive to changes in business activity and investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures employment in the Facilities Support Services industry, which includes companies that provide services like janitorial, security, and landscaping to businesses and organizations.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health of the service sector and overall economic conditions, as Facilities Support Services is a critical component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to gauge the health of the service sector and overall economic conditions, as it reflects changes in business activity and investment.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the availability of the most recent data, and the trend may not capture all employment in the Facilities Support Services industry.
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Citation
U.S. Federal Reserve, Employment for Administrative and Support and Waste Management and Remediation Services: Facilities Support Services (NAICS 56121) in the United States (IPUPN56121W201000000), retrieved from FRED.