Hours Worked for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States
IPUPN56172L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.30
Year-over-Year Change
-26.67%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the hours worked in the janitorial services industry, a subset of the administrative and support services sector in the United States. It provides insight into the demand for cleaning and maintenance services, which is an important indicator of commercial and institutional 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: Janitorial Services (NAICS 56172) trend tracks the total number of hours worked by employees in the janitorial services industry. This data point is used by economists and policymakers to assess the health and activity of the commercial real estate, hospitality, and institutional sectors.
Methodology
The data is collected through surveys of businesses in the janitorial services industry.
Historical Context
Trends in janitorial services hours worked can inform views on the broader commercial real estate and services markets.
Key Facts
- Janitorial services account for over 1 million jobs in the U.S.
- The janitorial services industry generates over $60 billion in annual revenue.
- Trends in janitorial services hours reflect changes in commercial activity and real estate utilization.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked by employees in the janitorial services industry, which is a subset of the broader administrative and support services sector.
Q: Why is this trend relevant for users or analysts?
A: Trends in janitorial services hours worked provide insight into the health and activity of the commercial real estate, hospitality, and institutional sectors of the economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in the janitorial services industry.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to assess the broader commercial services and real estate markets.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Hours Worked for Administrative and Support and Waste Management and Remediation Services: Janitorial Services (NAICS 56172) in the United States (IPUPN56172L201000000), retrieved from FRED.