Average Weekly Hours of All Employees: Education and Health Services in Minnesota
SMU27000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.30
Year-over-Year Change
1.29%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Education and Health Services in Minnesota metric tracks the average number of hours worked per week by workers in the education and health services sector in the state of Minnesota.
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 metric provides insight into labor market conditions and productivity in the education and health services industry, which is a major component of Minnesota's economy. It is used by economists and policymakers to monitor employment trends and assess the health of the state's workforce.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform decisions around labor policies, training programs, and economic development initiatives.
Key Facts
- Minnesota's education and health services sector accounts for over 20% of the state's employment.
- Average weekly hours in this sector have remained relatively stable over the past decade.
- Tracking this metric can help identify labor shortages or productivity changes in a key industry.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average number of hours worked per week by employees in the education and health services sector in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into labor market conditions and productivity in a major industry, which is useful for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through 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 labor policies, training programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Minnesota (SMU27000006500000002A), retrieved from FRED.