Labor Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States
IPUSN713940L020000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,966.07
Year-over-Year Change
72.60%
Date Range
1/1/2002 - 1/1/2024
Summary
This economic trend measures labor compensation, including wages and benefits, for the fitness and recreational sports centers industry in the United States. It provides insight into the cost and availability of labor in this important leisure 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 Labor Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States metric tracks inflation-adjusted changes in labor costs for this specific industry. It is a key indicator of labor market dynamics and input costs for businesses in the fitness and recreation industry.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Historical Context
This metric is used by economists, industry analysts, and policymakers to understand labor market conditions and cost pressures in the leisure and hospitality sector.
Key Facts
- This metric dates back to 1987.
- The fitness industry employs over 400,000 workers in the U.S.
- Labor costs account for over 50% of total operating expenses in the fitness sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures labor compensation, including wages and benefits, for the fitness and recreational sports centers industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the cost and availability of labor in the important leisure and hospitality sector, which is crucial for understanding industry dynamics and cost pressures.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through employer surveys.
Q: How is this trend used in economic policy?
A: This metric is used by economists, industry analysts, and policymakers to understand labor market conditions and cost pressures in the leisure and hospitality sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Labor Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States (IPUSN713940L020000000), retrieved from FRED.