Expenses for Translation and Interpretation Services, Establishments Subject To Federal Income Tax, Employer Firms
TAISEESTFIT354193 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,018.00
Year-over-Year Change
69.99%
Date Range
1/1/2003 - 1/1/2022
Summary
This economic trend measures the expenses for translation and interpretation services among employer firms subject to federal income tax. It provides insights into the demand for language services within the U.S. business landscape.
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 Expenses for Translation and Interpretation Services, Establishments Subject To Federal Income Tax, Employer Firms trend tracks the total costs incurred by U.S. businesses for outsourced language services. This data offers economists and policymakers a gauge of the linguistic needs of the domestic private sector.
Methodology
The data is collected through surveys of U.S. employer firms subject to federal income tax.
Historical Context
This trend can inform decisions related to trade, immigration, and workforce development policies.
Key Facts
- The trend has shown steady year-over-year growth since 2015.
- Translation and interpretation services account for a small but growing share of total business expenses.
- Demand for these services is closely tied to globalization and changing workforce demographics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total expenses incurred by U.S. employer firms subject to federal income tax for outsourced translation and interpretation services.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the linguistic needs of the domestic private sector, which can inform decisions related to trade, immigration, and workforce development policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys of U.S. employer firms subject to federal income tax.
Q: How is this trend used in economic policy?
A: This trend can inform decisions related to trade, immigration, and workforce development policies by providing a gauge of the demand for language services within the U.S. business landscape.
Q: Are there update delays or limitations?
A: There may be lags in data availability, and the survey-based nature of the data collection could introduce some limitations.
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Citation
U.S. Federal Reserve, Expenses for Translation and Interpretation Services, Establishments Subject To Federal Income Tax, Employer Firms (TAISEESTFIT354193), retrieved from FRED.