Hours Worked for Other Services (Except Public Administration): Private Households (NAICS 814) in the United States
IPUUN814L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71.86
Year-over-Year Change
-33.01%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the number of hours worked in the private household services industry in the United States. It provides insight into labor utilization and productivity in this 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): Private Households (NAICS 814) metric tracks the total number of hours worked by employees in private households, such as housekeepers, nannies, and personal assistants. This data point is used by economists and policymakers to analyze labor market trends and productivity in the domestic services industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding the dynamics of the domestic services labor market and its contribution to the broader economy.
Key Facts
- The private household services industry employs over 2 million workers in the U.S.
- Hours worked in this sector declined during the COVID-19 pandemic but have since recovered.
- Domestic services make up approximately 1.5% of total U.S. employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in private households, such as housekeepers, nannies, and personal assistants.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor utilization and productivity in the domestic services industry, which is an important sector of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze labor market dynamics and the contribution of the domestic services industry to the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Hours Worked for Other Services (Except Public Administration): Private Households (NAICS 814) in the United States (IPUUN814L010000000), retrieved from FRED.