Real Gross Domestic Product: Health Care and Social Assistance (62) in the Great Lakes BEA Region
Annual, Not Seasonally Adjusted
GLAKHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
254,633.80
Year-over-Year Change
30.42%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the annual gross state product (GSP) of Alaska's healthcare and social assistance industry, not seasonally adjusted. It provides important insights into the economic performance and contribution of this key 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 annual, not seasonally adjusted gross state product (GSP) for Alaska's healthcare and social assistance industry reflects the total economic output and value-added by this sector within the state. It is a crucial metric for analyzing the size, growth, and significance of this industry to Alaska's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is widely used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of Alaska's healthcare sector.
Key Facts
- Alaska's healthcare and social assistance industry accounts for over 10% of the state's gross domestic product.
- This sector has experienced steady growth of 3-4% annually over the past decade.
- Healthcare is one of Alaska's largest and fastest-growing employers, providing over 50,000 jobs statewide.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted gross state product (GSP) of Alaska's healthcare and social assistance industry.
Q: Why is this trend relevant for users or analysts?
A: It provides crucial insights into the size, growth, and economic significance of Alaska's healthcare sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and industry analysts to assess the economic health and competitiveness of Alaska's healthcare sector.
Q: Are there update delays or limitations?
A: The data is released annually with a lag of several months, reflecting the time required for comprehensive data collection and analysis.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (GLAKHLTHSOCASSRGSP), retrieved from FRED.