Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States
IPUPN56151L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,281.10
Year-over-Year Change
79.55%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the labor compensation for travel agencies (NAICS 56151) in the United States. It is an important indicator for assessing the financial health and productivity of the travel services 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 Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States series tracks the total compensation, including wages and benefits, paid to employees in the travel agency industry. This metric provides insight into labor costs and economic conditions within a critical service sector.
Methodology
The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this trend to monitor the travel services sector and inform decisions related to economic policy, investment, and market strategy.
Key Facts
- Travel agencies are a key component of the U.S. service economy.
- Labor costs account for a significant portion of travel agency expenses.
- Trends in travel agency compensation can signal broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total labor compensation, including wages and benefits, paid to employees in the travel agency industry (NAICS 56151) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the financial health and productivity of the travel services sector, which is an important part of the broader U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses and compiled by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to monitor the travel services sector and inform decisions related to economic policy, investment, and market strategy.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data, as is common with many economic indicators.
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Citation
U.S. Federal Reserve, Labor Compensation for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 56151) in the United States (IPUPN56151L020000000), retrieved from FRED.