Average Weekly Hours of All Employees: Education and Health Services in Colorado
SMU08000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.20
Year-over-Year Change
-1.83%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by all employees in the education and health services sector in Colorado. It provides insights into labor market conditions and utilization in this important industry.
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 Average Weekly Hours of All Employees: Education and Health Services in Colorado metric tracks the average number of hours worked per week by workers in the education and health services industries across the state. This data point is a key indicator of labor market dynamics and capacity utilization in these critical economic sectors.
Methodology
The data is collected through surveys of employers conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health of Colorado's education and healthcare job markets.
Key Facts
- The series has data available from January 2007 to the present.
- The average weekly hours in this sector peaked at 33.4 in February 2020.
- Weekly hours fell sharply to 29.7 during the COVID-19 pandemic in April 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by all employees in the education and health services sector in the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into labor market conditions and capacity utilization in Colorado's education and healthcare industries, which are critical components of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess the health of Colorado's education and healthcare job markets and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Colorado (SMU08000006500000002A), retrieved from FRED.