Average Weekly Hours of All Employees: Education and Health Services in Idaho
SMU16000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.20
Year-over-Year Change
0.94%
Date Range
1/1/2007 - 1/1/2024
Summary
The 'Average Weekly Hours of All Employees: Education and Health Services in Idaho' series measures the average number of hours worked per week by employees in the education and health services sector in Idaho. This metric provides insight into labor market trends and productivity in these key industries.
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
This data series tracks the average weekly hours of all employees in the education and health services sector in the state of Idaho. It is a useful indicator of workforce utilization and labor demand within these important service industries, which make up a significant portion of Idaho's economy.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Economists and policymakers monitor this trend to assess labor market conditions and the overall health of Idaho's education and healthcare sectors.
Key Facts
- Idaho's education and health services sector employs over 160,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- Trends in this metric can signal changes in labor demand and staffing levels in key service industries.
FAQs
Q: What does this economic trend measure?
A: This series measures the average number of hours worked per week by employees in the education and health services sector in the state of Idaho.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and workforce utilization within Idaho's education and healthcare industries, which are major components of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess labor market conditions and the overall health of Idaho's education and healthcare sectors, which are crucial for the state's economic and social well-being.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay, so it may not reflect the most current labor market conditions.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Idaho (SMU16000006500000002A), retrieved from FRED.