Average Weekly Hours of Production Employees: Health Care: Ambulatory Health Care Services in Minnesota
SMU27000006562100007A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32.40
Year-over-Year Change
-4.42%
Date Range
1/1/2001 - 1/1/2024
Summary
This economic trend measures the average weekly hours of production employees in the ambulatory health care services industry in Minnesota. It provides valuable insights into the labor dynamics of this critical 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 average weekly hours trend reflects the typical number of hours worked per week by production employees in Minnesota's ambulatory health care services industry, which includes doctor's offices, outpatient care centers, and other ambulatory health care providers. This metric is used by economists and policymakers to analyze workforce trends and labor market conditions in the health care sector.
Methodology
The data is collected through monthly surveys of Minnesota businesses by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is closely monitored by policymakers and industry analysts to gauge the health and productivity of Minnesota's ambulatory health care services sector.
Key Facts
- Minnesota's ambulatory health care services employ over 200,000 workers.
- Average weekly hours have increased by 2.3% over the past 5 years.
- Ambulatory health care is one of the fastest-growing industries in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average weekly hours worked by production employees in the ambulatory health care services industry in Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the labor dynamics and productivity of Minnesota's critical health care sector, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through monthly surveys of Minnesota businesses by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by policymakers and industry analysts to gauge the health and productivity of Minnesota's ambulatory health care services sector.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Average Weekly Hours of Production Employees: Health Care: Ambulatory Health Care Services in Minnesota (SMU27000006562100007A), retrieved from FRED.