Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States
IPUPN561510U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
155.96
Year-over-Year Change
94.08%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures hourly compensation, including wages and benefits, for workers in the travel agency industry (NAICS 561510) in the United States. It provides valuable insights into labor costs and productivity in this key 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
The Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States series tracks changes in total hourly labor costs, including wages, salaries, and benefits, for employees in the U.S. travel agency industry. This metric is used by economists and policymakers to analyze labor market dynamics and productivity trends in the services sector.
Methodology
The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Historical Context
This economic indicator is closely monitored by travel industry analysts and policymakers to assess the competitiveness and health of the U.S. travel agency sector.
Key Facts
- Travel agencies are a key component of the U.S. services sector.
- Hourly compensation in the travel agency industry averaged $26.42 in 2022.
- Trends in travel agency labor costs can impact pricing and profitability.
FAQs
Q: What does this economic trend measure?
A: This trend measures hourly compensation, including wages and benefits, for workers in the U.S. travel agency industry (NAICS 561510).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor costs and productivity in the travel services sector, which is crucial for assessing the competitiveness and health of the U.S. travel agency industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by travel industry analysts and policymakers to assess labor market dynamics and productivity trends in the services sector.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a delay of approximately one month.
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Citation
U.S. Federal Reserve, Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States (IPUPN561510U120000000), retrieved from FRED.