Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States
IPUPN56131L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,189.85
Year-over-Year Change
60.13%
Date Range
1/1/1994 - 1/1/2024
Summary
This economic trend measures labor compensation for employment placement agencies and executive search services in the United States. It provides insight into the cost of hiring and recruiting activities in the administrative and support 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 Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States metric tracks the inflation-adjusted labor costs for businesses providing personnel placement and staffing services. This data point is used by economists to analyze labor market dynamics and hiring trends.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses.
Historical Context
This trend is a key indicator for labor market conditions and can inform economic and workforce policy decisions.
Key Facts
- This metric tracks inflation-adjusted labor costs for hiring and staffing services.
- The data covers the NAICS 56131 industry group for the United States.
- It provides insight into the cost of recruiting and personnel placement activities.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation for employment placement agencies and executive search services in the United States. It tracks inflation-adjusted labor costs for the NAICS 56131 industry group.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market dynamics and hiring trends, which is useful for economists, policymakers, and businesses analyzing the administrative and support services sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses in the NAICS 56131 industry group.
Q: How is this trend used in economic policy?
A: This trend can inform economic and workforce policy decisions by providing a signal of labor market conditions and hiring activity in the administrative and support services sector.
Q: Are there update delays or limitations?
A: There may be lags in data reporting, and the metric is limited to the NAICS 56131 industry group in the United States.
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Citation
U.S. Federal Reserve, Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States (IPUPN56131L020000000), retrieved from FRED.