Average Weekly Hours of Production Employees: Health Care and Social Assistance in Ohio
SMU39000006562000007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.90
Year-over-Year Change
6.47%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours worked by production employees in the health care and social assistance sector in Ohio. It provides insights into labor market dynamics and productivity 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 Production Employees: Health Care and Social Assistance in Ohio is a key indicator of labor utilization in the state's health and social services sector. It tracks the average number of hours worked per week by production workers, offering valuable context on industry activity, staffing levels, and operational efficiency.
Methodology
The data is collected through the Current Employment Statistics (CES) program, a monthly survey of businesses.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the health and outlook of Ohio's health care and social assistance sector.
Key Facts
- Ohio's health care and social assistance sector employs over 1 million workers.
- The average workweek in this industry has remained relatively stable over the past decade.
- Production employees account for a significant portion of the sector's workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by production employees in Ohio's health care and social assistance sector.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into labor utilization and productivity in a critical industry, which is important for understanding economic conditions and policymaking.
Q: How is this data collected or calculated?
A: The data is collected through the monthly Current Employment Statistics (CES) survey of businesses.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this trend to assess the health and outlook of Ohio's health care and social assistance sector.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical lag of one to two months.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Health Care and Social Assistance in Ohio (SMU39000006562000007A), retrieved from FRED.