Hours Worked for Administrative and Support and Waste Management and Remediation Services: Services to Buildings and Dwellings (NAICS 5617) in the United States
IPUPN5617L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
105.46
Year-over-Year Change
22.90%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the monthly hours worked in the U.S. services to buildings and dwellings industry, which is a key indicator of economic activity and labor demand in the administrative and support services 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 hours worked data provides insights into production capacity, labor utilization, and trends in the building maintenance and waste management services industry. It is a valuable metric for economists and policymakers analyzing the health of the service economy.
Methodology
The data is collected through surveys of businesses in the NAICS 5617 industry group.
Historical Context
This trend is closely watched by analysts and policymakers for signals about the broader services and commercial real estate markets.
Key Facts
- The services to buildings and dwellings industry accounts for over 2 million U.S. jobs.
- Monthly hours worked data is released with a 1-month lag.
- This industry saw a sharp decline in hours during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly hours worked in the U.S. services to buildings and dwellings industry, which includes businesses that provide cleaning, maintenance, and waste management services for commercial and residential properties.
Q: Why is this trend relevant for users or analysts?
A: The hours worked data provides insights into the health and labor demand of the administrative and support services sector, which is an important part of the broader services economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the NAICS 5617 industry group.
Q: How is this trend used in economic policy?
A: This trend is closely watched by analysts and policymakers for signals about the commercial real estate and broader services markets, which are key drivers of overall economic activity.
Q: Are there update delays or limitations?
A: The monthly hours worked data is released with a 1-month lag.
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Citation
U.S. Federal Reserve, Hours Worked for Administrative and Support and Waste Management and Remediation Services: Services to Buildings and Dwellings (NAICS 5617) in the United States (IPUPN5617L010000000), retrieved from FRED.