Real Estate: NAICS 531

About the Real Estate subsector

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:

  • Lessors of Real Estate: NAICS 5311
  • Offices of Real Estate Agents and Brokers: NAICS 5312
  • Activities Related to Real Estate: NAICS 5313

Workforce Statistics

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.

Employment and Unemployment

Data series Back
data
Dec.
2014
Jan.
2015
Feb.
2015
Mar.
2015

Employment (in thousands)

 

Employment, all employees (seasonally adjusted)

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1,501.2 1,504.4 (P) 1,506.5 (P) 1,508.9

Employment, production and nonsupervisory employees

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1,143.1 1,121.0 (P) 1,122.5  

Unemployment

 

Unemployment rate

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4.6% 4.4% 3.4% 2.6%

Footnotes
(P) Preliminary

(Source: Current Employment Statistics, Current Population Survey

Employment by Occupation

Data series Employment,
2014

Bookkeeping, accounting, and auditing clerks

49,370

General and operations managers

30,270

Landscaping and groundskeeping workers

35,530

Office clerks, general

102,330

Property, real estate, and community association managers

130,640

Real estate brokers

33,830

Real estate sales agents

128,280

(Source: Occupational Employment Statistics)

Projections

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)

Earnings and Hours

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.

Earnings and Hours of All Employees

Data series Back
data
Nov.
2014
Dec.
2014
Jan.
2015
Feb.
2015

Average hourly earnings

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$24.51 $24.54 $24.67 (P) $24.85

Average weekly hours

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35.3 34.4 34.7 (P) 35.5

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Nov.
2014
Dec.
2014
Jan.
2015
Feb.
2015

Average hourly earnings

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$19.69 $19.71 $19.84 (P) $20.00

Average weekly hours

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34.5 33.7 34.0 (P) 34.8

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series Wages, 2014
Hourly Annual
Median Mean Median Mean

Bookkeeping, accounting, and auditing clerks

$17.81 $18.61 $37,050 $38,700

General and operations managers

$47.43 $58.78 $98,650 $122,250

Landscaping and groundskeeping workers

$11.58 $12.63 $24,090 $26,270

Office clerks, general

$13.07 $14.14 $27,190 $29,410

Property, real estate, and community association managers

$24.76 $29.91 $51,510 $62,220

Real estate brokers

$27.19 $38.30 $56,560 $79,660

Real estate sales agents

$18.35 $25.72 $38,170 $53,490

(Source: Occupational Employment Statistics)

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. 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 2010 2011 2012 2013

Fatalities

 

Number of fatalities

63 43 50 48

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

 

Total recordable cases

(1) 2.7 2.8 2.6 2.6

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

(1) 1.5 1.6 1.4 1.5

Cases involving days away from work

(1) 1.0 1.1 0.9 1.0

Cases involving days of job transfer or restriction

(1) 0.5 0.5 0.4 0.5

Footnotes
(1) Industry scope changed in 2009

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.

Establishments

Data series Back
data
4th quarter
2013
1st quarter
2014
2nd quarter
2014
3rd quarter
2014

Number of establishments

 

Private industry

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298,410 (P) 299,366 (P) 302,527 (P) 305,051

Local government

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1,672 (P) 1,680 (P) 1,679 (P) 1,677

State government

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27 (P) 27 (P) 28 (P) 28

Federal government

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2 (P) 2 (P) 2 (P) 2

Footnotes
(P) Preliminary

(Source: Quarterly Census of Employment and Wages)

 

Data extracted on: May 06, 2015