Hours Worked for Educational Services: Educational Services (NAICS 61) in the United States
IPUQN61L201000000 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.70
Year-over-Year Change
-37.04%
Date Range
1/1/1988 - 1/1/2024
Summary
This economic trend measures the monthly index of hours worked in the educational services industry in the United States. It provides insights into the labor inputs and productivity in this important 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 trend represents the total number of hours worked by employees in establishments classified under the North American Industry Classification System (NAICS) as educational services (NAICS 61). This data helps economists and policymakers analyze labor market conditions and productivity trends in the education industry.
Methodology
The data is collected through surveys of business establishments and calculated as an index relative to a base year.
Historical Context
This metric is widely used to monitor economic conditions and labor market dynamics in the education sector.
Key Facts
- The educational services industry accounts for over 13 million jobs in the U.S.
- Hours worked in this sector increased by 2.5% in 2022 compared to the prior year.
- The index has a base year of 2012 = 100.
FAQs
Q: What does this economic trend measure?
A: This trend measures the monthly index of hours worked by employees in the educational services industry in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor market conditions and productivity trends in the education sector, which is an important part of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments and calculated as an index relative to a base year.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to monitor economic conditions and labor market dynamics in the education industry.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Hours Worked for Educational Services: Educational Services (NAICS 61) in the United States (IPUQN61L201000000), retrieved from FRED.