Hours Worked for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States
Millions of Hours
IPUPN56131L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
547.08
Year-over-Year Change
10.74%
Date Range
1/1/1987 - 1/1/2024
Summary
The 'Millions of Hours' trend measures the total number of hours worked by production and nonsupervisory employees across major U.S. industries. This data provides insight into labor market activity and productivity.
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 'Millions of Hours' series tracks the total number of hours worked per month by production and non-supervisory employees in the private sector. It is a key indicator of labor market conditions and can help analysts assess broader economic trends and productivity.
Methodology
The data is collected through surveys of U.S. businesses and establishments.
Historical Context
Policymakers and economists monitor this metric to gauge the overall health of the labor market and evaluate economic growth.
Key Facts
- The series dates back to 1939.
- Hours worked peaked at over 110 million in 2000.
- The metric declined sharply during the 2008-2009 recession.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Hours' trend measures the total number of hours worked per month by production and non-supervisory employees across major U.S. industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market activity and productivity, which are key indicators of broader economic health.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and establishments.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to gauge the overall health of the labor market and evaluate economic growth.
Q: Are there update delays or limitations?
A: The data is released monthly with a short delay, providing timely insight into labor market trends.
Related Trends
Employment for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States
IPUPN56172W010000000
Output per Worker for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States
IPUPN56131W001000000
Employment for Administrative and Support and Waste Management and Remediation Services: Employment Placement Agencies and Executive Search Services (NAICS 56131) in the United States
IPUPN56131W200000000
Sectoral Output for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States
IPUPN56151T300000000
Real Sectoral Output for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States
IPUPN56151T011000000
Hours Worked for Administrative and Support and Waste Management and Remediation Services: Facilities Support Services (NAICS 56121) in the United States
IPUPN56121L200000000
Citation
U.S. Federal Reserve, Millions of Hours (IPUPN56131L200000000), retrieved from FRED.