All Employees: Health Care: Nursing and Residential Care Facilities in Minnesota
SMU27000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.30
Year-over-Year Change
8.61%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the healthcare and nursing care facilities industry in Minnesota. It provides insights into the labor market and economic conditions within this vital 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
The All Employees: Health Care: Nursing and Residential Care Facilities in Minnesota trend tracks the total number of workers 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 workforce trends and labor market dynamics in the healthcare industry.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for understanding the health of Minnesota's healthcare and long-term care sectors, which are important contributors to the state's economy.
Key Facts
- Minnesota's nursing and residential care facilities employ over 90,000 workers.
- This industry accounts for nearly 3% of the state's total non-farm employment.
- Employment in this sector has grown by over 10% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees working in nursing homes, assisted living facilities, and other residential healthcare providers across the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the labor market and economic conditions within Minnesota's vital healthcare and long-term care sectors.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is relevant for understanding the health of Minnesota's healthcare and long-term care industries, which are important contributors to the state's economy.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Minnesota (SMU27000006562300001A), retrieved from FRED.