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Real Estate and Rental and Leasing: NAICS 53

About the Real Estate and Rental and Leasing sector

The real estate and rental and leasing sector is part of the financial activities supersector.

The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks.

This sector also includes establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and it was felt that from a production basis they would best be included here. In addition, a substantial proportion of property management is self-performed by lessors.

The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs)); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works).

North American Industry Classification System

The real estate and rental and leasing sector consists of these subsectors:

Workforce Statistics

This section provides information relating to employment and unemployment in real estate and rental and leasing. While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households. The following tables present an overview of the industry including the number of jobs, the unemployment rate of those previously employed in the industry, job openings and labor turnover, union membership and representation, data for occupations common to the industry, and projections of occupational employment change.

Employment, Unemployment, and Openings, Hires, and Separations

Data series Back
data
Jan.
2022
Feb.
2022
Mar.
2022
Apr.
2022

Employment (in thousands)

Employment, all employees (seasonally adjusted)

2,316.5 2,331.0 (p)2,340.5 (p)2,348.2

Unemployment

Unemployment rate

2.2% 2.4% 2.9% 2.4%

Job openings, hires, and separations (in thousands)

Job openings

148 134 (p)144  

Hires

79 57 (p)66  

Separations

91 43 (p)50  

Footnotes
(p) Preliminary

(Source: Current Employment Statistics, Current Population Survey, Job Openings and Labor Turnover Survey)

Union Membership and Representation

Data series Back
data
2018 2019 2020 2021

Union membership and representation

Members of unions (percent of wage and salary workers)

3.9% 4.0% 3.5% 5.2%

Represented by unions (percent of wage and salary workers)

4.8% 4.7% 4.3% 6.5%

(Source: Current Population Survey)

Employment by Occupation

Data series Employment,
2021

Counter and rental clerks

190,400

Property, real estate, and community association managers

188,350

Real estate brokers

44,330

Real estate sales agents

141,690

(Source: Occupational Employment and Wage Statistics)

Projections

For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for real estate and rental and leasing.

(Source: Office of Occupational Statistics and Employment Projections)

Earnings

Weekly earnings by union membership status are shown. Recent hourly and annual earnings for occupations commonly found in educational services. This section also contains information on the average cost of benefits paid by employers, as well as recent rates of change in wages and total compensation.

Earnings by Occupation

Data series Wages, 2021
Hourly Annual
Median Mean Median Mean

Counter and rental clerks

$14.91 $16.69 $31,010 $34,710

Property, real estate, and community association managers

$27.37 $31.58 $56,930 $65,680

Real estate brokers

$29.76 $41.79 $61,890 $86,930

Real estate sales agents

$22.85 $27.95 $47,530 $58,130

(Source: Occupational Employment and Wage Statistics)

Employee Benefits

This section presents data on the incidence (the percentage of workers with access to and participation in employer-provided benefit plans) and provisions of selected employee benefits from the National Compensation Survey. More Benefits estimates are also accessible from the Benefits database, the archived NCS publications page, and the complete Employee Benefits Excel dataset (XLSX).

Data series Access Participation
Back
data
2021 Back
data
2021

Private industry

Retirement benefit plans

63 48

Defined benefit plans

9 7

Defined contribution plans

62 47

(Source: Employee Benefits in the United States)

Data series After 1 year of service After 20 years of service
Back
data
2021 Back
data
2021

Mean number of vacation days for private industry workers without consolidated leave plans

10 17

(Source: Employee Benefits in the United States)

Data series Back
data
2021

Percent of private industry workers with access to employer-sponsored benefits

Health care

73

Paid vacation

86

Paid sick leave

84

(Source: Employee Benefits in the United States)

Employer Compensation Costs

Data series Back
data
2nd quarter
2021
3rd quarter
2021
4th quarter
2021
1st quarter
2022

Private industry

12-month percent change

Total compensation

2.0% 2.4% 3.7% 5.2%

Wages and salaries

2.4% 3.0% 4.4% 6.0%

3-month percent change

Total compensation

0.6% 1.1% 1.2% 2.1%

Wages and salaries

0.9% 1.2% 1.5% 2.3%

(Source: Compensation Cost Trends)

Data series Private industry
Compensation component
($ per hour worked)
Percent of total compensation
Back
data
4th quarter 2021 Back
data
4th quarter 2021

Total compensation

32.69 100.0

Wages and salaries

23.30 71.3

Total benefits

9.40 28.7

Insurance

2.81 8.6

Retirement

0.62 1.9

Paid leave

2.43 7.4

(Source: Compensation Cost Trends)

Union Membership and Representation

Data series Back
data
Median weekly earnings
2018 2019 2020 2021

Union membership and representation

Full-time workers

$897 $948 $1,001 $1,000

Members of unions

$979 $941 $1,081 $1,027

Represented by unions

$921 $937 $1,105 $995

Nonunion

$896 $949 $999 $1,001

(Source: Current Population Survey)

Work-related Fatalities, Injuries, and Illnesses

This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in real estate and rental and leasing. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.

Data series 2017 2018 2019 2020

Fatalities

Number of fatalities

70 78 90 75

Blank cells indicate no data reported or data that do not meet publication criteria.

Data series 2020

Rate of injury and illness cases per 100 full-time workers

Total recordable cases

2.1

Cases involving days away from work, job restriction, or transfer

1.3

Cases involving days away from work

0.9

Cases involving days of job transfer or restriction

0.4

Blank cells indicate no data reported or data that do not meet publication criteria.

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments in real estate and rental and leasing.

Establishments

Data series Back
data
4th quarter
2020
1st quarter
2021
2nd quarter
2021
3rd quarter
2021

Number of establishments

Private industry

440,027 (p)441,119 (p)446,441 (p)452,347

Local government

1,738 (p)1,736 (p)1,727 (p)1,727

State government

26 (p)26 (p)26 (p)26

Federal government

6 (p)7 (p)6 (p)6

Footnotes
(p) Preliminary

(Source: Quarterly Census of Employment and Wages)

 

Data extracted on: May 20, 2022