Hours Worked for Administrative and Support and Waste Management and Remediation Services: Facilities Support Services (NAICS 561210) in the United States
Percent Change from Year Ago
IPUPN561210L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.30
Year-over-Year Change
83.33%
Date Range
1/1/1988 - 1/1/2024
Summary
The Percent Change from Year Ago economic trend measures the annual rate of change in a given economic indicator, providing insight into long-term growth patterns.
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
This metric compares the current value of an economic indicator to its value from the same period a year earlier, expressed as a percentage change. It is a widely used metric for analyzing economic performance and identifying emerging trends.
Methodology
The data is calculated by the U.S. Federal Reserve by comparing the current period's value to the corresponding prior-year period.
Historical Context
Economists and policymakers closely monitor this trend to understand the broader economic landscape and make informed decisions.
Key Facts
- The metric can be applied to a wide range of economic indicators, such as industrial production, retail sales, and GDP.
- It helps identify turning points in the business cycle and monitor the pace of economic expansion or contraction.
- Percent change from year ago is a key statistic used by the Federal Reserve and other policymakers to assess the health of the economy.
FAQs
Q: What does this economic trend measure?
A: The Percent Change from Year Ago metric measures the annual rate of change in a given economic indicator, providing insight into long-term growth patterns.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to analyze economic performance and identify emerging trends, helping inform decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve by comparing the current period's value to the corresponding prior-year period.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this trend to understand the broader economic landscape and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly or quarterly basis, with some delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Percent Change from Year Ago (IPUPN561210L201000000), retrieved from FRED.