State and local government current receipts: Government social benefit payments to persons
B109RC1Q027SBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,203.48
Year-over-Year Change
19.10%
Date Range
1/1/1947 - 4/1/2025
Summary
This economic trend measures government social benefit payments to individuals at the state and local level. It is an important indicator of social welfare program expenditures and the fiscal health of state and local governments.
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 State and Local Government Current Receipts: Government Social Benefit Payments to Persons series tracks the value of cash and in-kind transfers from state and local governments to individuals, including Medicaid, unemployment insurance, and other social programs. It provides insights into the scope of public social safety net programs.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
This metric is closely monitored by economists, policymakers, and analysts to assess the fiscal condition of state and local governments and the reach of social welfare programs.
Key Facts
- State and local governments spent over $1 trillion on social benefit payments in 2021.
- Medicaid accounted for the largest share of state and local social benefit payments.
- Social benefit payments grew by 8.4% in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This metric tracks government social benefit payments made by state and local governments in the United States, including programs like Medicaid, unemployment insurance, and other welfare initiatives.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the fiscal health and social safety net programs of state and local governments, which are critical for understanding the broader economic environment and policy priorities.
Q: How is this data collected or calculated?
A: The data is collected and calculated 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: Economists, policymakers, and analysts closely monitor this metric to assess the fiscal condition of state and local governments and the reach of social welfare programs, which informs policy decisions and economic forecasting.
Q: Are there update delays or limitations?
A: This data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately three months.
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Citation
U.S. Federal Reserve, State and local government current receipts: Government social benefit payments to persons (B109RC1Q027SBEA), retrieved from FRED.