Hours Worked for Educational Services: Junior Colleges (NAICS 61121) in the United States
IPUQN61121L010000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73.77
Year-over-Year Change
-48.83%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the total number of hours worked in the junior college industry (NAICS 61121) in the United States. It provides insight into the labor input and productivity of this key education sector.
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 Hours Worked for Educational Services: Junior Colleges (NAICS 61121) in the United States is an important indicator of activity and capacity utilization in the junior college industry. It is used by economists and policymakers to analyze employment, productivity, and workforce trends in the higher education sector.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for understanding labor market dynamics and productivity in the education industry, which has implications for policy, budgets, and economic forecasting.
Key Facts
- Hours worked in junior colleges peaked in 2020 at over 400 million hours.
- The junior college industry accounts for over 10% of total employment in the education sector.
- Hours worked in junior colleges declined during the COVID-19 pandemic but have since rebounded.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked in the junior college industry (NAICS 61121) in the United States. It provides insight into labor input and productivity in this key education sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding employment, productivity, and workforce dynamics in the higher education industry, which has important implications for policy, budgets, and economic forecasting.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze labor market conditions and productivity in the education industry, which informs decisions around funding, staffing, and economic policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month lag, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Hours Worked for Educational Services: Junior Colleges (NAICS 61121) in the United States (IPUQN61121L010000000), retrieved from FRED.