Contributions for government social insurance: Employee and self-employed contributions: Federal social insurance funds: Railroad retirement
CON5501A027NBEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.04
Year-over-Year Change
57.63%
Date Range
1/1/1937 - 1/1/2023
Summary
This economic trend measures employee and self-employed contributions to federal social insurance funds for railroad retirement. It is an important indicator of social safety net funding and labor market conditions.
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 Contributions for government social insurance: Employee and self-employed contributions: Federal social insurance funds: Railroad retirement data series tracks the total amount of payroll taxes and contributions directed towards the Railroad Retirement Board, which provides pension and disability benefits for railroad workers.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This trend is closely monitored by economists and policymakers to assess the financial health of the railroad retirement system and overall labor market dynamics.
Key Facts
- Railroad retirement is a separate system from Social Security.
- Contributions fund both pension and disability benefits for railroad workers.
- The system is jointly financed by employers and employees.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total amount of payroll taxes and contributions paid by railroad employees and self-employed individuals towards the federal Railroad Retirement system.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing the financial health and sustainability of the railroad retirement system, as well as broader labor market and social insurance trends.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to evaluate the funding status of the railroad retirement system and consider any potential policy changes or reforms.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a short delay before being publicly released.
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Citation
U.S. Federal Reserve, Contributions for government social insurance: Employee and self-employed contributions: Federal social insurance funds: Railroad retirement (CON5501A027NBEA), retrieved from FRED.