Labor Productivity for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States
IPUSN713940L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.15
Year-over-Year Change
37.55%
Date Range
1/1/2002 - 1/1/2022
Summary
This economic trend measures labor productivity in the U.S. fitness and recreational sports centers industry. It provides insights into the efficiency and competitiveness of this important 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 labor productivity index tracks changes in the ratio of real output to hours worked for fitness and recreational sports centers. It is a key metric for evaluating industry performance and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and labor hours.
Historical Context
Policymakers and analysts use this trend to assess economic conditions and productivity growth in the recreation and leisure sector.
Key Facts
- Productivity in fitness/sports centers has grown over 30% since 2007.
- This industry employs over 700,000 workers in the U.S.
- Productivity gains can lead to lower consumer prices and improved affordability.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity for fitness and recreational sports centers in the U.S., which is the ratio of real industry output to hours worked.
Q: Why is this trend relevant for users or analysts?
A: Productivity growth in this industry is important for evaluating competitiveness, cost structures, and the overall health of the recreation and leisure sector.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and labor hours.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess economic conditions and productivity growth in the recreation and leisure industry, which can inform decisions on taxation, regulation, and infrastructure investment.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of this data, and the metric does not capture all factors that contribute to industry productivity.
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Citation
U.S. Federal Reserve, Labor Productivity for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States (IPUSN713940L000000000), retrieved from FRED.