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The real estate subsector is part of the real estate and rental and leasing sector.
Industries in the Real Estate subsector group establishments that are primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services.
This subsector includes equity Real Estate Investment Trusts (REITs) that are primarily engaged in leasing buildings, dwellings, or other real estate property to others.
North American Industry Classification System
The real estate subsector consists of these industry groups:
This section provides information relating to employment and unemployment in real estate. 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, data for occupations common to the industry, and projections of occupational employment change.
Data series | Back data |
Jun. 2024 |
Jul. 2024 |
Aug. 2024 |
Sep. 2024 |
---|---|---|---|---|---|
Employment (in thousands) |
|||||
Employment, all employees (seasonally adjusted) |
1,885.0 | 1,889.0 | (p)1,891.6 | (p)1,893.7 | |
1,371.0 | 1,387.5 | (p)1,387.1 | |||
Unemployment |
|||||
2.1% | 0.4% | 2.1% | 0.9% | ||
Footnotes |
(Source: Current Employment Statistics, Current Population Survey
Data series | Employment, 2023 |
---|---|
52,730 | |
69,230 | |
27,740 | |
94,240 | |
229,840 | |
46,320 | |
162,020 |
(Source: Occupational Employment and Wage Statistics)
For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for real estate.
(Source: Office of Occupational Statistics and Employment Projections)
This section presents data on employee earnings and weekly hours. The latest industry averages of hourly earnings and weekly hours are shown. In addition, recent hourly and annual earnings are shown for occupations commonly found in real estate.
Data series | Back data |
May 2024 |
Jun. 2024 |
Jul. 2024 |
Aug. 2024 |
---|---|---|---|---|---|
$34.79 | $34.87 | $34.30 | (p)$34.43 | ||
35.9 | 36.2 | 35.7 | (p)35.9 | ||
Footnotes |
(Source: Current Employment Statistics)
Data series | Back data |
May 2024 |
Jun. 2024 |
Jul. 2024 |
Aug. 2024 |
---|---|---|---|---|---|
$28.68 | $28.73 | $28.39 | (p)$28.45 | ||
35.5 | 35.5 | 35.0 | (p)35.2 | ||
Footnotes |
(Source: Current Employment Statistics)
Data series | Wages, 2023 | |||
---|---|---|---|---|
Hourly | Annual | |||
Median | Mean | Median | Mean | |
$23.59 | $24.70 | $49,060 | $51,380 | |
$49.27 | $63.20 | $102,490 | $131,460 | |
$17.60 | $18.55 | $36,610 | $38,590 | |
$19.27 | $20.72 | $40,080 | $43,100 | |
$29.56 | $35.28 | $61,480 | $73,380 | |
$30.32 | $41.68 | $63,060 | $86,700 | |
$24.36 | $31.08 | $50,670 | $64,640 |
(Source: Occupational Employment and Wage Statistics)
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. 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 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
Fatalities |
||||
64 | 57 | 58 | 61 | |
Blank cells indicate no data reported or data that do not meet publication criteria. |
Data series | 2022 |
---|---|
Rate of injury and illness cases per 100 full-time workers |
|
1.8 | |
Cases involving days away from work, job restriction, or transfer |
1.2 |
0.9 | |
0.3 | |
Blank cells indicate no data reported or data that do not meet publication criteria. |
(Source: Injuries, Illnesses, and Fatalities)
This section presents data on the number of establishments in real estate.
Data series | Back data |
2nd quarter 2023 |
3rd quarter 2023 |
4th quarter 2023 |
1st quarter 2024 |
---|---|---|---|---|---|
Number of establishments |
|||||
423,132 | 427,952 | 431,967 | (p)435,113 | ||
1,700 | 1,703 | 1,711 | (p)1,704 | ||
38 | 33 | 34 | (p)36 | ||
1 | 1 | 1 | (p)1 | ||
Footnotes |
(Source: Quarterly Census of Employment and Wages)
This section presents productivity and related data for the industry, presented as the percent change from the previous year. Measures of total factor productivity (TFP) compare growth in output to the growth in a combination of inputs that include labor, capital, energy, materials, and services. Measures of labor productivity, or output per hour, compare the growth in output to the growth in hours worked.
Data series | Back data |
2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|
-0.6 | -1.0 | 3.2 | 0.5 | ||
6.0 | -2.3 | 6.4 | -0.7 | ||
6.6 | -1.2 | 3.0 | -1.2 | ||
0.8 | 1.1 | 1.2 | 1.7 | ||
0.8 | -1.3 | 6.5 | 4.8 | ||
5.4 | 0.3 | -0.5 | -5.7 |
(Source: Productivity)
Data extracted on: October 11, 2024