Hours Worked for Other Services (Except Public Administration): Private Households (NAICS 81411) in the United States
IPUUN81411L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
431.14
Year-over-Year Change
-33.01%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total hours worked in the private household services industry in the United States. It provides insights into the labor market and service sector activity.
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): Private Households (NAICS 81411)' series tracks the total number of hours worked by employees in private household services, such as private housekeepers, nannies, and personal assistants. This metric offers a window into the dynamics of the household services labor market.
Methodology
The data is collected through surveys of private establishments in the household services industry.
Historical Context
This trend is used by policymakers and economists to monitor employment and income trends in the service sector.
Key Facts
- The household services industry employs over 2 million workers in the U.S.
- Hours worked in private household services have declined by 10% since 2019.
- Household services account for approximately 1% of total U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked by employees in the private household services industry in the United States, including private housekeepers, nannies, and personal assistants.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into employment and labor market dynamics in the household services sector, which is an important component of the broader service industry.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private establishments in the household services industry.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor employment and income trends in the service sector, which can inform decisions related to labor market and economic policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical delay of 1-2 months. The trend may not capture all informal or unreported household services work.
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Citation
U.S. Federal Reserve, Hours Worked for Other Services (Except Public Administration): Private Households (NAICS 81411) in the United States (IPUUN81411L200000000), retrieved from FRED.