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
IPUPN56131L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-6.10
Year-over-Year Change
-212.96%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the number of hours worked in the employment placement agencies and executive search services industry (NAICS 56131) in the United States. It provides insights into the labor market and service sector activity.
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 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 metric tracks the total number of hours worked by employees in this specific industry. It serves as an indicator of labor demand and production volume within the employment services sector.
Methodology
The data is collected through surveys of businesses in the NAICS 56131 industry conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by economists and policymakers to assess the health of the labor market and service industry.
Key Facts
- The NAICS 56131 industry includes companies that provide employment placement consulting and executive search services.
- Hours worked in this sector can signal changes in labor market conditions and hiring demand.
- This metric is a component of the Federal Reserve's broader measures of service sector activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the employment placement agencies and executive search services industry (NAICS 56131) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor demand and production volume within the employment services sector, which is an important indicator of broader service industry and labor market conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the NAICS 56131 industry conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by economists and policymakers to assess the health of the labor market and service industry, which informs economic and employment policy decisions.
Q: Are there update delays or limitations?
A: There may be lags in data reporting and potential revisions to previously published figures, as is common with many economic indicators.
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Citation
U.S. Federal Reserve, 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 (IPUPN56131L201000000), retrieved from FRED.