Hours Worked for Other Services (Except Public Administration): Commercial Machinery Repair and Maintenance (NAICS 811310) in the United States
IPUUN811310L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
617.67
Year-over-Year Change
23.36%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total number of hours worked in the commercial machinery repair and maintenance industry in the United States. It provides insight into the activity and labor demand within this key 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 Hours Worked for Other Services (Except Public Administration): Commercial Machinery Repair and Maintenance (NAICS 811310) series tracks the total labor input for this industry, which plays a vital role in maintaining and servicing commercial equipment used across the economy.
Methodology
The data is collected through surveys of businesses in this industry.
Historical Context
This trend is closely watched by economists and policymakers to gauge the health of the commercial services sector.
Key Facts
- Commercial machinery repair and maintenance is a $40 billion industry in the U.S.
- This sector employs over 300,000 workers nationwide.
- Demand for repair services often tracks broader industrial production trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked in the commercial machinery repair and maintenance industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the activity and labor demand within this key service sector, which is closely tied to broader industrial production and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses in this industry.
Q: How is this trend used in economic policy?
A: This trend is closely watched by economists and policymakers to gauge the health of the commercial services sector and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Hours Worked for Other Services (Except Public Administration): Commercial Machinery Repair and Maintenance (NAICS 811310) in the United States (IPUUN811310L200000000), retrieved from FRED.