All Employees: Health Care: Nursing and Residential Care Facilities in Wisconsin
SMU55000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72.00
Year-over-Year Change
-8.51%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the number of employees in the health care and nursing care industries in Wisconsin, providing insights into the state's health care workforce and sector performance.
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 Wisconsin metric measures the total number of individuals employed in nursing homes, assisted living facilities, and other residential care providers across the state. This data is used by economists and policymakers to analyze the health of Wisconsin's long-term care industry and labor market.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for understanding the capacity and staffing challenges facing Wisconsin's eldercare system, as well as broader trends in the state's health services sector.
Key Facts
- Wisconsin has over 70,000 employees in nursing and residential care facilities.
- Long-term care accounts for about 20% of the state's total health care workforce.
- Employment in this sector has grown by 7% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of employees working in nursing homes, assisted living facilities, and other residential care providers across the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the capacity and staffing challenges facing Wisconsin's long-term care industry, which is a critical component of the state's broader health services sector.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Labor Statistics collects this data through surveys of business establishments in Wisconsin.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this employment data to monitor the health and workforce dynamics of Wisconsin's eldercare system, informing decisions around Medicaid funding, workforce development, and long-term care infrastructure.
Q: Are there update delays or limitations?
A: This data is published on a monthly basis, with a typical 1-2 month lag between the reference period and public release.
Related Trends
Gross Domestic Product: Transit and Ground Passenger Transportation (485) in Wisconsin
WITRANGRNDTRANNGSP
Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Wisconsin
WIPLASRUBMANQGSP
All Employees: Transportation and Utilities: Transportation and Warehousing in Wisconsin
SMU55000004340008901
Real Gross Domestic Product: Federal Civilian in Wisconsin
WIGOVFEDCIVRGSP
Average Weekly Hours of All Employees: Trade, Transportation, and Utilities in Wisconsin
SMU55000004000000002A
Chain-Type Quantity Index for Real GDP: Retail Trade (44-45) in Wisconsin
WIRETAILQGSP
Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Wisconsin (SMU55000006562300001A), retrieved from FRED.