Gross Domestic Product: Health Care and Social Assistance (62) in Idaho
Quarterly, Seasonally Adjusted Annual Rate
IDHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,090.40
Year-over-Year Change
30.60%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures quarterly health and social assistance services as a share of nominal gross state product, reported at a seasonally adjusted annual rate.
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 Quarterly, Seasonally Adjusted Annual Rate of Health and Social Assistance Services as a Share of Nominal Gross State Product is a key indicator of the size and growth of the healthcare and social services sector in the U.S. economy. It provides insight into the sectoral composition and evolution of state-level economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
This trend is widely used by economists, policymakers, and industry analysts to monitor the performance and structural changes within the healthcare services industry.
Key Facts
- The healthcare and social assistance sector accounts for over 15% of U.S. GDP.
- This trend reached an all-time high of 16.8% in Q2 2020 during the COVID-19 pandemic.
- State-level variations reflect differences in demographics, policy, and industry composition.
FAQs
Q: What does this economic trend measure?
A: This trend measures the quarterly, seasonally adjusted annual rate of health and social assistance services as a share of nominal gross state product in the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the size and growth of the healthcare and social services sector, which is a critical component of the U.S. economy. It is widely used by economists, policymakers, and industry analysts to monitor performance and structural changes in this important industry.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry stakeholders to assess the health and trajectory of the healthcare services sector, which has significant implications for employment, government spending, and the overall economy.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of several months. While the trend provides a comprehensive view of the healthcare and social assistance sector, it may not capture rapid, short-term changes in the industry.
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Citation
U.S. Bureau of Economic Analysis, Quarterly, Seasonally Adjusted Annual Rate of Health and Social Assistance Services as a Share of Nominal Gross State Product (IDHLTHSOCASSNQGSP), retrieved from FRED.