Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States
IPUPN5615U120000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162.53
Year-over-Year Change
121.49%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures hourly compensation, including wages and benefits, for workers in the travel arrangement and reservation services industry (NAICS 5615) in the United States. It is an important indicator of labor costs and productivity in this 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 Arrangement and Reservation Services (NAICS 5615) in the United States measures the average hourly pay and benefits for employees in this specific industry. It is a key metric used by economists and policymakers to analyze labor market dynamics and trends in this service-oriented segment of the economy.
Methodology
This data is collected and calculated by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Economists and industry analysts use this metric to understand cost pressures and productivity in the travel services sector, which has implications for consumer prices and broader economic conditions.
Key Facts
- Hourly compensation includes both wages and benefits.
- The travel arrangement and reservation services industry is part of the broader administrative and support services sector.
- This metric can signal changes in labor costs and productivity for travel-related businesses.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly compensation, including wages and benefits, 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 is important for understanding labor market dynamics and cost pressures in the travel services sector, which has implications for consumer prices and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Economists and industry analysts use this metric to assess cost and productivity trends in the travel services sector, which can inform economic policymaking and business decision-making.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in coverage or sampling, as with any survey-based economic indicator.
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Citation
U.S. Federal Reserve, Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States (IPUPN5615U120000000), retrieved from FRED.