Hours Worked for Other Services (Except Public Administration): Repair and Maintenance (NAICS 811) in the United States
IPUUN811L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.97
Year-over-Year Change
14.27%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total hours worked in the U.S. repair and maintenance services industry, providing insights into labor demand and productivity 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): Repair and Maintenance (NAICS 811) series tracks the total number of hours worked by employees in this industry, which includes businesses that provide a wide range of repair and maintenance services to both consumers and other companies.
Methodology
The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Historical Context
This metric is closely watched by economists and policymakers to assess the health and growth of the services sector.
Key Facts
- The repair and maintenance services industry employs over 1.3 million workers in the U.S.
- Hours worked in this sector grew by 3.2% in 2021 as the economy recovered from the pandemic.
- Productivity gains in repair and maintenance services can contribute to overall economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the U.S. repair and maintenance services industry, which includes businesses that provide a wide range of repair and maintenance services to both consumers and other companies.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to assess the health and growth of the services sector, as productivity gains in repair and maintenance services can contribute to overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. businesses by the Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor labor demand and productivity within the repair and maintenance services industry, which is an important component of the broader services sector.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Hours Worked for Other Services (Except Public Administration): Repair and Maintenance (NAICS 811) in the United States (IPUUN811L010000000), retrieved from FRED.