Labor Productivity for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States
IPUPN56131L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
162.98
Year-over-Year Change
75.05%
Date Range
1/1/1994 - 1/1/2022
Summary
This trend measures labor productivity in the U.S. employment placement agencies and executive search services industry. It provides insight into the efficiency and competitiveness of this 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 labor productivity trend tracks output per hour worked for companies classified under NAICS code 56131, which includes employment placement agencies and executive search services. It is an important indicator of industry performance and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on establishment surveys.
Historical Context
This productivity metric is closely watched by policymakers and industry analysts to assess economic conditions and competitiveness.
Key Facts
- Covers over 340,000 U.S. jobs in the employment placement sector.
- Productivity in this industry has grown by 25% over the past decade.
- The U.S. has the largest employment placement services market globally.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity, or output per hour worked, in the U.S. employment placement agencies and executive search services industry.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insights into the efficiency and competitiveness of this key service sector, which is closely watched by policymakers and industry analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on establishment surveys.
Q: How is this trend used in economic policy?
A: This productivity trend is used by policymakers and economists to assess economic conditions and competitiveness in the employment services industry.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 2-3 month delay.
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Citation
U.S. Federal Reserve, Labor Productivity for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States (IPUPN56131L000000000), retrieved from FRED.