Fine Arts Schools NAICS 611610

Jan 19, 2025 - Disposable Income Increases

• Disposable personal income, an indicator of demand for arts instruction, increased 0.3% month over month in November 2024 while real personal consumption expenditures increased 0.4%, according to the US Commerce Department's Bureau of Economic Analysis (BEA). Real disposable personal income, what Americans make after adjusting for inflation and taxes, increased 0.1% during the period. The increase in personal income in November primarily reflected an increase in compensation that was partly offset by decreases in personal income receipts on assets and personal current transfer receipts.
• Adults who created art and/or attended arts events within the previous month were more likely than those who did not to participate in social groups like church groups, unions, fraternal or athletic groups, according to research conducted by the National Endowment for the Arts. About 46% of arts creators reported not belonging to a social group while about 57% of non-creators—reported not belonging to a social group.

• Art is an important contributor to physical and mental well-being, according to Susan Magsamen, co-author of an upcoming book on the new field of neuroaesthetics, which studies the brain’s responses to art. There are some similarities to mindfulness and meditation, and to a flow state, Magsamen told The Washington Post. Part of what’s happening in those kinds of very focused spaces where you’re not thinking about 100 other things is that you’re letting your mind go, and that brings you to a stress-free state.
• Fine art school industry employment was unchanged during the first month of 2025, according to the US Bureau of Labor Statistics. Fine arts school sales are forecast to increase at a 4.59% compounded annual rate from 2024 to 2028, faster than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc.