Average Weekly Hours of All Employees: Education and Health Services in Massachusetts
SMU25000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.20
Year-over-Year Change
4.55%
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 Massachusetts. It is a key indicator of labor market conditions and economic activity 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 Massachusetts trend provides insight into the utilization of labor in a major service-providing industry within the state. It is used by economists and policymakers to analyze workforce dynamics and productivity in this sector.
Methodology
The data is collected through surveys of businesses and establishments in Massachusetts.
Historical Context
This trend is relevant for understanding the health of the local labor market and informing economic and workforce development policies.
Key Facts
- Education and health services account for over 20% of employment in Massachusetts.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- Changes in average weekly hours can signal shifts in workforce demand and utilization.
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 Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into labor market conditions and productivity in a key service-providing industry, which is important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments in Massachusetts.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to monitor workforce dynamics and inform economic and workforce development policies in Massachusetts.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be lags in reporting or potential revisions to previously published figures.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Massachusetts (SMU25000006500000002A), retrieved from FRED.