Total Revenue for Administrative and Support Services, All Establishments, Employer Firms
This dataset tracks total revenue for administrative and support services, all establishments, employer firms over time.
Latest Value
1190880.00
Year-over-Year Change
122.45%
Date Range
1/1/2004 - 1/1/2022
Summary
This economic trend measures the total revenue for administrative and support services, providing insights into the performance and demand for these essential business functions across all U.S. employer establishments.
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 Total Revenue for Administrative and Support Services, All Establishments, Employer Firms metric tracks the aggregate revenue generated by establishments primarily engaged in providing a range of day-to-day support activities for the operations of other organizations. This data point is a key indicator of economic activity and demand for outsourced administrative and business services.
Methodology
The data is collected through surveys of U.S. employer establishments by the U.S. Census Bureau.
Historical Context
This revenue trend is closely monitored by economists, policymakers, and industry analysts to assess the health of the administrative and business services sector.
Key Facts
- The administrative and support services sector accounts for over 8% of total U.S. private-sector employment.
- This industry includes companies providing services like office administration, facilities support, and travel arrangement.
- Total revenue in this sector reached a record high of $1.1 trillion in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by U.S. employer establishments primarily engaged in providing administrative and business support services.
Q: Why is this trend relevant for users or analysts?
A: This revenue metric is a key indicator of economic activity and demand for outsourced administrative, facilities, and business support services, which are essential for the operation of organizations across sectors.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. employer establishments conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and industry analysts closely monitor this revenue trend to assess the health and growth of the administrative and business services sector, which has significant implications for employment, investment, and broader economic conditions.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Census Bureau, with a lag of approximately two months from the end of the reference period.
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Citation
U.S. Federal Reserve, Total Revenue for Administrative and Support Services, All Establishments, Employer Firms (REVEF561ALLEST), retrieved from FRED.