Average Weekly Hours of All Employees: Education and Health Services in Maine
SMU23000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.00
Year-over-Year Change
-3.51%
Date Range
1/1/2007 - 1/1/2024
Summary
This trend measures the average weekly hours worked by all employees in the education and health services industry in Maine. It provides insight into workforce productivity and labor market conditions in 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 Average Weekly Hours of All Employees: Education and Health Services in Maine tracks the average number of hours worked per week by workers in Maine's education and healthcare industries. This metric is used by economists and policymakers to assess the overall health and capacity of the state's labor market in these vital service sectors.
Methodology
The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around workforce management, economic stimulus, and investments in Maine's education and healthcare systems.
Key Facts
- Maine's education and health services sector employs over 150,000 workers.
- The average workweek in this industry is around 34 hours per week.
- Weekly hours have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in Maine's education and healthcare industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the productivity and capacity of Maine's education and healthcare workforce, which are critical to the state's economic and social well-being.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of employers by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Trends in average weekly hours can inform decisions around workforce management, economic stimulus, and investments in Maine's education and healthcare systems.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical delay of several weeks.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Maine (SMU23000006500000002A), retrieved from FRED.