All Employees: Health Care: Nursing and Residential Care Facilities in Utah
SMU49000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.20
Year-over-Year Change
36.84%
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 industries in the state of Utah. It provides important insights into the labor market and service capacity of a vital 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 Utah data series tracks the total number of individuals employed in nursing homes, assisted living facilities, and other residential care providers across the state. This metric is closely monitored by economists and policymakers to understand workforce dynamics and service delivery within Utah's healthcare system.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is used to inform workforce planning, healthcare service capacity, and economic policy decisions at the state level.
Key Facts
- Utah has over 50,000 healthcare workers in nursing and residential care facilities.
- Employment in this sector has grown by 15% over the past 5 years.
- The healthcare industry is one of the largest employers in the state of Utah.
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 healthcare providers in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the labor market and service capacity of Utah's healthcare system, which is a vital sector of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is used to inform workforce planning, healthcare service capacity, and economic policy decisions at the state level in Utah.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions based on additional reporting.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Utah (SMU49000006562300001A), retrieved from FRED.