Hours Worked for Educational Services: Colleges, Universities, and Professional Schools (NAICS 61131) in the United States
IPUQN61131L200000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,752.45
Year-over-Year Change
3.12%
Date Range
1/1/1987 - 1/1/2024
Summary
This economic trend measures the number of hours worked in the educational services industry, specifically at colleges, universities, and professional schools in the United States. It provides insights into the labor input and productivity of this key 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: Colleges, Universities, and Professional Schools (NAICS 61131) in the United States trend tracks the total number of hours worked by employees in this industry. It is an important indicator of the level of economic activity and labor utilization within the higher education sector.
Methodology
The data is collected through surveys of businesses and organizations in the specified industry.
Historical Context
This trend is closely monitored by policymakers, economists, and education analysts to assess the health and dynamics of the higher education labor market.
Key Facts
- The higher education sector employs over 3.5 million people in the United States.
- Hours worked in this industry have increased by 8% over the past decade.
- The COVID-19 pandemic led to a significant decline in hours worked in this sector in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of hours worked by employees in the educational services industry, specifically at colleges, universities, and professional schools in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the labor input and productivity of the higher education sector, which is a crucial part of the U.S. economy and job market.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and organizations in the specified industry.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and education analysts to assess the health and dynamics of the higher education labor market.
Q: Are there update delays or limitations?
A: The data is published on a regular basis, but there may be some delays in reporting due to the survey-based methodology.
Related Trends
Employment for Educational Services: Educational Services (NAICS 611) in the United States
IPUQN611W200000000
Employment for Educational Services: Business, Computer, and Management Training (NAICS 6114) in the United States
IPUQN6114W010000000
Hours Worked for Educational Services: Elementary and Secondary Schools (NAICS 61111) in the United States
IPUQN61111L010000000
Hours Worked for Educational Services: Junior Colleges (NAICS 6112) in the United States
IPUQN6112L010000000
Employment for Educational Services: Elementary and Secondary Schools (NAICS 611110) in the United States
IPUQN611110W200000000
Employment for Educational Services: Technical and Trade Schools (NAICS 6115) in the United States
IPUQN6115W200000000
Citation
U.S. Federal Reserve, Hours Worked for Educational Services: Colleges, Universities, and Professional Schools (NAICS 61131) in the United States (IPUQN61131L200000000), retrieved from FRED.