Average Weekly Hours of All Employees: Education and Health Services in Rhode Island
SMU44000006500000002A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.50
Year-over-Year Change
7.62%
Date Range
1/1/2007 - 1/1/2024
Summary
The Average Weekly Hours of All Employees: Education and Health Services in Rhode Island measures the average number of hours worked per week by employees in the education and health services industry in Rhode Island. This trend provides insight into labor market conditions and productivity in this key economic 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
This series tracks the average weekly hours worked by all employees in the education and health services industry, which includes establishments providing education and health care services, across the state of Rhode Island. It is a valuable indicator of labor utilization and can help policymakers and analysts assess the strength and dynamics of this important industry.
Methodology
The data is collected through employer surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in average weekly hours can inform economic and workforce policies and influence business decisions within the education and healthcare sectors.
Key Facts
- Rhode Island's education and health services industry employs over 100,000 workers.
- The average weekly hours in this sector have remained relatively stable over the past decade.
- This data series dates back to 2003 and is released monthly by the U.S. Bureau of Labor Statistics.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of hours worked per week by employees in the education and health services industry in Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into labor market conditions and productivity within a key economic sector, which can inform policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys 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 economic and workforce policies and influence business decisions within the education and healthcare sectors.
Q: Are there update delays or limitations?
A: This data series is released monthly by the U.S. Bureau of Labor Statistics and has been published since 2003.
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Citation
U.S. Federal Reserve, Average Weekly Hours of All Employees: Education and Health Services in Rhode Island (SMU44000006500000002A), retrieved from FRED.