Labor Productivity for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States
IPUPN56151L000000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
175.11
Year-over-Year Change
225.47%
Date Range
1/1/1987 - 1/1/2022
Summary
This economic trend measures labor productivity for travel agencies in the United States. It provides insights into the efficiency and competitiveness of this key service industry.
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 for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States measures the output per hour worked in the travel agency sector. This metric is used by economists and policymakers to assess the productivity performance and competitive position of this industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using production and labor input data.
Historical Context
This productivity trend is relevant for monitoring the health and competitiveness of the travel services market.
Key Facts
- Travel agencies are a key component of the administrative and support services industry.
- Productivity in this sector impacts the cost and availability of travel services.
- The trend has shown gradual productivity improvements over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor productivity for travel agencies in the United States, specifically the output per hour worked in this service industry.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric provides insights into the efficiency and competitiveness of the travel agency sector, which is important for economists and policymakers monitoring the health of the services market.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using production and labor input data.
Q: How is this trend used in economic policy?
A: This productivity trend is relevant for monitoring the competitiveness and market dynamics of the travel services industry, which informs economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and coverage limitations of the underlying Bureau of Labor Statistics surveys.
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Citation
U.S. Federal Reserve, Labor Productivity for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States (IPUPN56151L000000000), retrieved from FRED.