Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States
IPUPN5615L021000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-4.80
Year-over-Year Change
-164.00%
Date Range
1/1/1998 - 1/1/2024
Summary
This economic trend measures labor compensation for workers in the travel arrangement and reservation services industry, a key sector of the administrative and support services industry in the United States.
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 labor compensation data provides insight into wage and salary levels for employees in the travel services industry, which is an important driver of the broader service economy. Analysts use this metric to gauge industry health and productivity.
Methodology
The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
Policymakers and economists monitor this metric to assess the broader services sector and make informed decisions.
Key Facts
- Travel arrangement and reservation services is a $100+ billion industry in the U.S.
- This sector employs over 350,000 workers nationwide.
- Labor costs account for roughly 70% of total industry expenses.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and salaries, for workers in the travel arrangement and reservation services industry (NAICS 5615) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the health and productivity of the travel services industry, which is an important part of the broader service economy. Analysts use it to gauge industry conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to assess the services sector and make informed decisions about the broader economy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States (IPUPN5615L021000000), retrieved from FRED.