Hours Worked for Other Services (Except Public Administration): Other Personal Services (NAICS 8129) in the United States
IPUUN8129L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
124.78
Year-over-Year Change
58.50%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the hours worked in the other personal services industry (NAICS 8129) in the United States. It is an important indicator of labor demand and productivity in a key 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): Other Personal Services (NAICS 8129) trend tracks the total number of hours worked by employees in personal care services, death care services, dry cleaning and laundry services, and other personal services. This metric provides insight into the overall activity and staffing levels within this diverse service industry.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers monitor this trend to assess the health and labor dynamics of the personal services sector.
Key Facts
- The other personal services industry includes businesses such as hair salons, funeral homes, and dry cleaners.
- In 2022, the total hours worked in this sector reached over 1.3 billion per month.
- Employment in other personal services declined sharply during the COVID-19 pandemic but has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked by employees in the other personal services industry (NAICS 8129) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor demand and productivity in a key service sector, which is important for economists and policymakers to monitor.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers monitor this trend to assess the health and labor dynamics of the personal services sector, which can inform decisions related to economic and workforce policies.
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 Other Services (Except Public Administration): Other Personal Services (NAICS 8129) in the United States (IPUUN8129L010000000), retrieved from FRED.