Hours Worked for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States
IPUUN8111L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.89
Year-over-Year Change
18.31%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the number of hours worked in the automotive repair and maintenance industry in the United States. It provides insights into the labor dynamics and productivity of this crucial 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 Hours Worked for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) trend tracks the total number of hours worked by employees in this industry. It is an important indicator of activity and capacity utilization within the automotive repair and maintenance sector.
Methodology
The data is collected through surveys of businesses in the automotive repair and maintenance industry.
Historical Context
This trend is used by economists and policymakers to assess the health and performance of the automotive services industry and its impact on the broader economy.
Key Facts
- The automotive repair and maintenance industry employs over 800,000 workers in the U.S.
- This sector accounts for over $115 billion in annual economic output.
- Hours worked in this industry have been relatively stable in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the automotive repair and maintenance industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the labor dynamics and productivity of the automotive repair and maintenance sector, which is a crucial service industry for the broader economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the automotive repair and maintenance industry.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess the health and performance of the automotive services industry and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, with minimal delays. There are no major known limitations to this economic indicator.
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Citation
U.S. Federal Reserve, Hours Worked for Other Services (Except Public Administration): Automotive Repair and Maintenance (NAICS 8111) in the United States (IPUUN8111L010000000), retrieved from FRED.