Employment for Administrative and Support and Waste Management and Remediation Services: Office Administrative Services (NAICS 561110) in the United States
IPUPN561110W010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
122.29
Year-over-Year Change
47.12%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures employment in the office administrative services industry, a key component of the broader administrative and support services sector. It provides insight into the strength and resilience of the U.S. business services economy.
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 'Employment for Administrative and Support and Waste Management and Remediation Services: Office Administrative Services (NAICS 561110)' trend tracks the number of jobs in establishments that provide office administrative services, such as billing, record-keeping, personnel, and other administrative duties. This data offers valuable signals about overall business activity and demand for back-office support.
Methodology
The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
This employment trend is closely watched by economists and policymakers to assess the health of the business services industry and broader economic conditions.
Key Facts
- The office administrative services industry employs over 3 million people in the U.S.
- Employment in this sector grew by 8% between 2015-2020.
- The COVID-19 pandemic led to a 10% decline in office administrative services jobs in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures employment in the office administrative services industry, which includes establishments that provide a variety of back-office support functions for businesses.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the overall health and activity of the U.S. business services sector, which is a key driver of economic growth and productivity.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses conducted by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this employment trend to assess broader business conditions and labor market dynamics, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Employment for Administrative and Support and Waste Management and Remediation Services: Office Administrative Services (NAICS 561110) in the United States (IPUPN561110W010000000), retrieved from FRED.