Real Gross Domestic Product: Health Care and Social Assistance (62) in Arizona
Annual, Not Seasonally Adjusted
AZHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,902.20
Year-over-Year Change
67.70%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures annual, not seasonally adjusted government social assistance benefits per capita in the United States. It provides insight into the scale and distribution of government social welfare programs.
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' social assistance benefits per capita trend tracks the total value of government-provided social benefits, including Medicare, Medicaid, and other forms of public assistance, divided by the total U.S. population. This metric is used by economists and policymakers to evaluate the scope and impact of the social safety net.
Methodology
The data is compiled by the U.S. Bureau of Economic Analysis using information from government budget and expenditure records.
Historical Context
This trend is relevant for analyzing the role of government in providing economic security and welfare services.
Key Facts
- Per capita social assistance benefits have grown from $3,000 in 1960 to over $11,000 in 2021.
- Government social assistance accounts for over 17% of total personal income in the U.S.
- Medicaid and Medicare make up the largest components of social assistance spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total annual government-provided social assistance benefits per person in the United States, including programs like Medicare, Medicaid, and other forms of public aid.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and distribution of the government's social welfare programs, which is important for evaluating the role of the public sector in providing economic security and services.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Bureau of Economic Analysis using information from government budget and expenditure records.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze the government's role in providing a social safety net and the overall scope of public assistance programs.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, so it may not reflect the most recent fiscal year.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (AZHLTHSOCASSRGSP), retrieved from FRED.