Government social insurance funds: Current state and local expenditures
A745RC1A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.75
Year-over-Year Change
28.52%
Date Range
1/1/1942 - 1/1/2023
Summary
This economic trend measures state and local government spending on social insurance programs, such as unemployment benefits and workers' compensation. It is a key indicator of the social safety net's role in the 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 Government Social Insurance Funds: Current State and Local Expenditures series tracks government outlays for social insurance programs administered at the state and local level. This data provides insight into the scale and composition of the public social safety net.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and economists use this metric to assess the government's role in providing social insurance and supporting household income.
Key Facts
- State and local social insurance spending was $785 billion in 2021.
- Unemployment benefits accounted for over 40% of this spending.
- Social insurance expenditures grew by 7.5% in 2021 after declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric tracks state and local government spending on social insurance programs, including unemployment benefits, workers' compensation, and other income support initiatives.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the scale and composition of the public social safety net, which is a key component of government's role in supporting household income and economic stability.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the government's role in providing social insurance and supporting household income, which is especially relevant during economic downturns.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Government social insurance funds: Current state and local expenditures (A745RC1A027NBEA), retrieved from FRED.