Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 561720) in the United States
IPUPN561720U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.80
Year-over-Year Change
77.78%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures hourly compensation for workers in the janitorial services industry in the United States. It provides insights into labor costs and productivity in the administrative and waste management sectors.
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 Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 561720) in the United States tracks the average hourly wage and benefits paid to workers in the janitorial services industry. This metric is used by economists and policymakers to analyze labor market conditions and cost pressures in the broader administrative and waste management sectors.
Methodology
This data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
Trends in janitorial services compensation are monitored for their implications on inflation, consumer prices, and the overall health of the service economy.
Key Facts
- Janitorial services account for over 2 million jobs in the U.S.
- Hourly compensation in this industry has risen over 20% in the past decade.
- The janitorial services sector makes up nearly 10% of the administrative and waste management industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly wage and benefits paid to workers in the janitorial services industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in janitorial services compensation provide insights into labor market conditions and cost pressures in the broader administrative and waste management sectors, which are important for economists and policymakers to monitor.
Q: How is this data collected or calculated?
A: This data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: Trends in janitorial services compensation are monitored for their implications on inflation, consumer prices, and the overall health of the service economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
Related Trends
Real Sectoral Output for Administrative and Support and Waste Management and Remediation Services: Travel Arrangement and Reservation Services (NAICS 5615) in the United States
IPUPN5615T011000000
Employment for Administrative and Support and Waste Management and Remediation Services: Office Administrative Services (NAICS 5611) in the United States
IPUPN5611W010000000
Employment for Administrative and Support and Waste Management and Remediation Services: Administrative and Support Services (NAICS 561) in the United States
IPUPN561W200000000
Output per Worker for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States
IPUPN56172W000000000
Employment for Administrative and Support and Waste Management and Remediation Services: Office Administrative Services (NAICS 561110) in the United States
IPUPN561110W010000000
Unit Labor Costs for Administrative and Support and Waste Management and Remediation Services: Travel Agencies (NAICS 561510) in the United States
IPUPN561510U100000000
Citation
U.S. Federal Reserve, Hourly Compensation for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 561720) in the United States (IPUPN561720U121000000), retrieved from FRED.