Employer's Cost for Fringe Benefits for Management, Scientific, and Technical Consulting Services, All Establishments, Employer Firms
This dataset tracks employer's cost for fringe benefits for management, scientific, and technical consulting services, all establishments, employer firms over time.
Latest Value
22952.00
Year-over-Year Change
53.66%
Date Range
1/1/2012 - 1/1/2022
Summary
This economic trend measures the cost of fringe benefits for employees in the management, scientific, and technical consulting services industry across all establishments. It provides insight into labor costs and workforce compensation for this key 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 Employer's Cost for Fringe Benefits trend tracks the average cost of non-wage compensation like health insurance, retirement plans, and paid leave provided to workers in the management, scientific, and technical consulting services industry. This metric is used by economists and policymakers to understand industry labor costs and workforce dynamics.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Historical Context
This trend offers insights into the competitiveness and labor market conditions within the consulting services industry.
Key Facts
- This trend has been tracked since 2004.
- Fringe benefits account for over 30% of total compensation in this industry.
- Costs have risen steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average cost of fringe benefits, such as health insurance and retirement plans, provided to employees in the management, scientific, and technical consulting services industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor costs and workforce compensation dynamics within the consulting services industry, which is important for understanding market conditions and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze labor market conditions and workforce dynamics within the consulting services industry, which can inform policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the latest data, as it is collected through a survey process.
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Citation
U.S. Federal Reserve, Employer's Cost for Fringe Benefits for Management, Scientific, and Technical Consulting Services, All Establishments, Employer Firms (EXPECFEF5416ALLEST), retrieved from FRED.