Hours Worked for Educational Services: Colleges, Universities, and Professional Schools (NAICS 6113) in the United States
IPUQN6113L200000000 • 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 total number of hours worked in the educational services industry, specifically colleges, universities, and professional schools in the United States. It provides insight into the labor market and economic activity 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: Colleges, Universities, and Professional Schools (NAICS 6113) in the United States metric tracks the total number of hours worked by employees in this industry. It serves as an indicator of labor demand and productivity within the higher education sector, which is a key component of the overall economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on surveys of businesses and institutions.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the health and trends within the higher education industry and its impact on the broader economy.
Key Facts
- The educational services industry is a major employer in the U.S. economy.
- Hours worked in this sector can indicate changes in enrollment, funding, and economic conditions.
- Trends in this data help analysts understand the labor market for higher education professionals.
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 colleges, universities, and professional schools (NAICS 6113) in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor demand and productivity within the higher education sector, which is an important component of the overall economy. It can indicate changes in enrollment, funding, and economic conditions affecting the industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on surveys of businesses and institutions.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and market analysts use this trend to assess the health and trends within the higher education industry and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, but there may be some delays in reporting due to the time required to collect and process the survey information.
Related Trends
Employment for Educational Services: Technical and Trade Schools (NAICS 6115) in the United States
IPUQN6115W200000000
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IPUQN611210W010000000
Employment for Educational Services: Elementary and Secondary Schools (NAICS 611110) in the United States
IPUQN611110W200000000
Hours Worked for Educational Services: Elementary and Secondary Schools (NAICS 61111) in the United States
IPUQN61111L010000000
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IPUQN61L201000000
Employment for Educational Services: Other Schools and Instruction (NAICS 6116) in the United States
IPUQN6116W010000000
Citation
U.S. Federal Reserve, Hours Worked for Educational Services: Colleges, Universities, and Professional Schools (NAICS 6113) in the United States (IPUQN6113L200000000), retrieved from FRED.