Hours Worked for Arts, Entertainment, and Recreation: Performing Arts and Spectator Sports (NAICS 711) in the United States
IPUSN711L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.85
Year-over-Year Change
26.82%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the monthly hours worked in the performing arts and spectator sports industry (NAICS 711) in the United States. It provides insights into labor market conditions and economic activity within the entertainment 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 Arts, Entertainment, and Recreation: Performing Arts and Spectator Sports (NAICS 711) in the United States is a key indicator of the performance and underlying trends in the entertainment industry. It reflects the total number of hours worked by employees in activities such as theater, dance, music, sports, and other live events.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the performing arts and spectator sports industry.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to gauge the health and growth of the entertainment sector and its contribution to the overall U.S. economy.
Key Facts
- The performing arts and spectator sports industry accounts for over 2 million jobs in the U.S.
- Hours worked in this sector have seen significant fluctuations due to the COVID-19 pandemic.
- The entertainment industry contributed over $877 billion to the U.S. GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the performing arts and spectator sports industry (NAICS 711) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the labor market conditions and economic activity within the entertainment sector, which is a significant contributor to the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the performing arts and spectator sports industry.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and industry analysts to gauge the health and growth of the entertainment sector and its contribution to the overall U.S. economy.
Q: Are there update delays or limitations?
A: The data is subject to revision and may have update delays, as is common with many economic indicators.
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Citation
U.S. Federal Reserve, Hours Worked for Arts, Entertainment, and Recreation: Performing Arts and Spectator Sports (NAICS 711) in the United States (IPUSN711L010000000), retrieved from FRED.