All Employees: Health Care: Nursing and Residential Care Facilities in Rhode Island
SMU44000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.20
Year-over-Year Change
-11.48%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the health care and nursing care facilities industry in Rhode Island. It provides insight into the size and labor dynamics of this key sector of the state's economy.
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 All Employees: Health Care: Nursing and Residential Care Facilities in Rhode Island data series tracks the total employment in this industry, which includes nursing homes, assisted living facilities, and other residential care providers. This metric is used by economists and policymakers to monitor the health and growth of this vital component of the state's health care system.
Methodology
The data is collected through surveys of businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend offers important context for assessing the strength of Rhode Island's health care industry and its ability to meet the state's long-term care needs.
Key Facts
- Rhode Island has over 20,000 employees in nursing and residential care facilities.
- The health care sector accounts for nearly 15% of total employment in the state.
- Employment in this industry has grown by over 10% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of employees working in nursing homes, assisted living facilities, and other residential care providers in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insight into the size and labor dynamics of Rhode Island's health care industry, which is a vital component of the state's economy and serves the long-term care needs of its aging population.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this employment data to assess the health and growth of Rhode Island's health care sector, which has implications for the state's ability to meet the long-term care needs of its residents.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a lag of several weeks between the reference period and the publication of the latest figures.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Rhode Island (SMU44000006562300001A), retrieved from FRED.