Hours Worked for Administrative and Support and Waste Management and Remediation Services: Administrative and Support Services (NAICS 561) in the United States
IPUPN561L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98.78
Year-over-Year Change
11.11%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the monthly output of the administrative and support services industry in the United States, providing insight into the overall health of the 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 for Administrative and Support and Waste Management and Remediation Services: Administrative and Support Services (NAICS 561) in the United States is a key indicator for economists and policymakers to assess labor productivity and service industry activity.
Methodology
The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is closely watched by analysts to gauge the strength of the U.S. services economy and its implications for broader economic policy.
Key Facts
- This metric tracks labor input for a diverse range of administrative and support services.
- The services sector accounts for over two-thirds of U.S. economic output.
- Trends in this indicator can signal shifts in business operations and labor demand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly total of hours worked in the administrative and support services industry (NAICS 561) 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 U.S. services sector, which is a critical component of the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this indicator to assess labor market conditions and overall service industry activity, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Hours Worked for Administrative and Support and Waste Management and Remediation Services: Administrative and Support Services (NAICS 561) in the United States (IPUPN561L010000000), retrieved from FRED.