Hours Worked for Administrative and Support and Waste Management and Remediation Services: Other Support Services (NAICS 5619) in the United States
IPUPN5619L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-3.80
Year-over-Year Change
-353.33%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the hours worked in the administrative and support services industry, specifically focusing on other support services (NAICS 5619) in the United States. It provides insight into the labor utilization and productivity of this critical 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 Hours Worked for Administrative and Support and Waste Management and Remediation Services: Other Support Services (NAICS 5619) in the United States is an important economic indicator that tracks the total number of hours worked in this industry. It offers valuable information about the input and output of the administrative and support services sector, which plays a vital role in the overall U.S. economy.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to understand the health and performance of the administrative and support services sector.
Key Facts
- The administrative and support services sector accounts for over 8% of U.S. GDP.
- Hours worked in this sector have increased by 20% over the past decade.
- The industry employs over 8 million people in the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked in the administrative and support services industry, specifically focusing on other support services (NAICS 5619) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the labor utilization and productivity of the administrative and support services sector, which is a critical component of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and industry analysts to understand the health and performance of the administrative and support services sector, which informs economic policies and decision-making.
Q: Are there update delays or limitations?
A: The data is typically published on a monthly basis, but there may be occasional delays or revisions due to the nature of the survey process.
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Citation
U.S. Federal Reserve, Hours Worked for Administrative and Support and Waste Management and Remediation Services: Other Support Services (NAICS 5619) in the United States (IPUPN5619L201000000), retrieved from FRED.