Health Care and Social Assistance Wages and Salaries in Colorado
COWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,783,406.00
Year-over-Year Change
20.20%
Date Range
1/1/1998 - 1/1/2025
Summary
The Health Care and Social Assistance Wages and Salaries in Colorado trend measures earnings in the healthcare and social assistance industries within the state. This metric is closely watched by economists and policymakers to understand labor market conditions and cost pressures in a critical 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 total wages and salaries paid to employees in Colorado's health care and social assistance industries, which include hospitals, medical practices, nursing homes, and social service providers. It is a key indicator of economic activity and cost trends in the state's healthcare system.
Methodology
The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and industry analysts use this metric to monitor the financial health of Colorado's healthcare sector and labor market.
Key Facts
- Colorado's health care and social assistance industries employ over 400,000 workers.
- Wages in this sector grew by 4.2% in 2021 compared to the prior year.
- Health care is Colorado's largest private-sector employer, accounting for 12% of total state employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total wages and salaries paid to employees in Colorado's health care and social assistance industries, including hospitals, medical practices, nursing homes, and social service providers.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers to understand labor market conditions and cost pressures in a critical sector of Colorado's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this metric to monitor the financial health of Colorado's healthcare sector and labor market.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a 1-2 month lag.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in Colorado (COWHEA), retrieved from FRED.