Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States
IPUPN5615U100000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
95.86
Year-over-Year Change
-13.86%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures unit labor costs for the travel arrangement and reservation services industry in the United States. It provides insights into productivity and labor cost pressures within this service 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 unit labor cost trend represents the average cost of labor per unit of output produced. It is a key indicator of inflationary pressure and productivity trends within the travel services industry.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and total labor compensation.
Historical Context
Policymakers and economists closely monitor unit labor costs to assess the overall health of the service economy and inflationary risks.
Key Facts
- Unit labor costs reflect both wages and worker productivity.
- The travel services industry is a key component of the U.S. service economy.
- Rising unit labor costs can signal inflationary pressures.
FAQs
Q: What does this economic trend measure?
A: This trend measures unit labor costs for the travel arrangement and reservation services industry (NAICS 5615) in the United States. It provides insights into labor productivity and cost pressures within this service sector.
Q: Why is this trend relevant for users or analysts?
A: Unit labor costs are a crucial indicator of inflationary pressures and overall economic health. Monitoring this trend helps policymakers and economists assess productivity and cost dynamics in the service economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of industry output and total labor compensation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely track unit labor cost trends to evaluate inflationary risks and the overall productivity of the service sector, which is a major component of the U.S. economy.
Q: Are there update delays or limitations?
A: The unit labor cost data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States (IPUPN5615U100000000), retrieved from FRED.