Gross Annual Payroll for Administrative and Support Services, All Establishments, Employer Firms
EXPGAPEF561ALLEST • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
457,064.00
Year-over-Year Change
70.47%
Date Range
1/1/2005 - 1/1/2022
Summary
This economic trend measures the total annual payroll for administrative and support services firms in the United States. It provides insights into the size and health of this critical business services 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 Gross Annual Payroll for Administrative and Support Services tracks the total payroll expenses for establishments in this industry, which includes firms providing activities such as office administration, hiring and placing personnel, and providing cleaning services. This metric offers a high-level view of employment and economic activity in this key services sector.
Methodology
The data is collected through the U.S. Census Bureau's annual Statistics of U.S. Businesses survey of employer firms.
Historical Context
This payroll trend is used by economists and policymakers to monitor the broader services economy and its role in overall U.S. business activity.
Key Facts
- The administrative and support services sector accounts for over 10% of total U.S. private-sector payroll.
- Payroll in this industry has grown over 50% since 2010.
- The industry is dominated by small and medium-sized businesses.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total annual payroll for administrative and support services firms in the United States, providing insights into employment and economic activity in this key services sector.
Q: Why is this trend relevant for users or analysts?
A: The administrative and support services industry is a critical part of the broader U.S. economy, and this payroll trend offers valuable data for economists and policymakers monitoring business services activity.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual Statistics of U.S. Businesses survey of employer firms.
Q: How is this trend used in economic policy?
A: This payroll trend is used by economists and policymakers to monitor the services economy and its role in overall U.S. business activity, which informs economic analysis and policy decisions.
Q: Are there update delays or limitations?
A: The data is released annually with a delay of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Gross Annual Payroll for Administrative and Support Services, All Establishments, Employer Firms (EXPGAPEF561ALLEST), retrieved from FRED.