Real Gross Domestic Product: Educational Services (61) in Alabama
ALEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,304.60
Year-over-Year Change
5.78%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Educational Services (61) in Alabama measures the inflation-adjusted output of the educational services industry in the state. This metric is crucial for understanding the health and growth of Alabama's education 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
This series tracks the real value-added output of educational institutions, including public and private schools, colleges, and universities located in Alabama. It is an important indicator of the economic contribution and performance of the state's education industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using income and production information from surveys and administrative sources.
Historical Context
Policymakers and analysts use this metric to assess the economic impact of the education sector and inform decisions around funding, resource allocation, and industry regulation.
Key Facts
- Alabama's educational services industry accounts for over 5% of the state's total GDP.
- Real GDP in the sector has grown by an average of 2.5% annually over the past decade.
- The education industry is one of the largest employers in Alabama, accounting for over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted output or real gross domestic product (GDP) of the educational services industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the economic performance and contribution of Alabama's education sector, which is crucial for policymakers, businesses, and researchers analyzing the state's economic conditions and growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income and production information from surveys and administrative sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the economic impact of the education sector and inform decisions around funding, resource allocation, and industry regulation.
Q: Are there update delays or limitations?
A: There may be a 1-2 quarter delay in the availability of this data due to the time required for data collection and compilation by the statistical agencies.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Alabama (ALEDCATRQGSP), retrieved from FRED.