Hourly Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States
IPUSN713940U121000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.70
Year-over-Year Change
-140.48%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures hourly compensation, including wages and benefits, for workers in the fitness and recreational sports centers industry in the United States. It provides insight into labor costs and productivity in this important 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 Hourly Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States series tracks total compensation per hour worked, including both wages and benefits, for employees in this leisure and hospitality industry. This metric is used by economists and policymakers to monitor labor market conditions and productivity trends.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This compensation trend is relevant for understanding the economic health of the fitness and recreation industry and its competitive position.
Key Facts
- Wages and benefits account for over 60% of total costs in the fitness industry.
- Compensation growth in this sector has outpaced the overall private industry average since 2015.
- The COVID-19 pandemic significantly disrupted employment and compensation trends in fitness centers.
FAQs
Q: What does this economic trend measure?
A: This trend measures total hourly compensation, including wages and benefits, for workers employed in the fitness and recreational sports centers industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This compensation metric provides insight into labor costs and productivity trends in the fitness and recreation industry, which is an important part of the broader leisure and hospitality sector.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this compensation data to monitor labor market conditions and productivity in the fitness and recreation industry, which can inform decisions around employment, wages, and economic support programs.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Hourly Compensation for Arts, Entertainment, and Recreation: Fitness and Recreational Sports Centers (NAICS 713940) in the United States (IPUSN713940U121000000), retrieved from FRED.