Hours Worked for Educational Services: Junior Colleges (NAICS 6112) in the United States
IPUQN6112L010000000 • 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 hours worked in the educational services industry, specifically for junior colleges in the United States. It provides insights into labor input and productivity within the higher 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 6112) in the United States series tracks the total number of hours worked by employees in this specific industry. It is a key indicator of labor utilization and can be used to analyze productivity and labor market trends in the higher education domain.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Historical Context
This trend is closely monitored by policymakers, economists, and education industry analysts to understand workforce dynamics and productivity in the junior college sector.
Key Facts
- The series dates back to 1972.
- Junior colleges (NAICS 6112) account for about 20% of total educational services employment.
- Hours worked is a leading indicator of labor productivity in the higher education sector.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total hours worked by employees in the junior college industry (NAICS 6112) within the broader educational services sector in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into labor utilization and productivity in the higher education industry, which is crucial for policymakers, economists, and education stakeholders.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of businesses and establishments.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, education institutions, and labor market analysts to monitor workforce dynamics and productivity in the junior college sector, which informs policy decisions and industry planning.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. There may be seasonal adjustments and revisions to historical data.
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Citation
U.S. Federal Reserve, Hours Worked for Educational Services: Junior Colleges (NAICS 6112) in the United States (IPUQN6112L010000000), retrieved from FRED.