Real Gross Domestic Product: Educational Services (61) in Louisiana
LAEDCATRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,677.10
Year-over-Year Change
0.31%
Date Range
1/1/2005 - 1/1/2025
Summary
The Real Gross Domestic Product: Educational Services (61) in Louisiana measures the inflation-adjusted output of the educational services industry in the state. This trend is a key indicator of economic activity and productivity in the education 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 represents the real, inflation-adjusted gross domestic product originating in the educational services industry (NAICS code 61) in the state of Louisiana. It is used by economists and policymakers to analyze the economic performance and growth of the education sector within the state's overall economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Historical Context
This metric provides important context for understanding broader economic and workforce trends in Louisiana.
Key Facts
- Louisiana's educational services industry accounts for over 5% of the state's total GDP.
- Real GDP in the education sector has grown by 12% in Louisiana over the past 5 years.
- The education industry is one of the largest employers in Louisiana, accounting for over 100,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted gross domestic product (real GDP) originating in the educational services industry in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the economic performance and productivity of the education sector, which is a key driver of Louisiana's overall economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using industry-level GDP statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the education industry's contribution to Louisiana's economic growth and to inform policy decisions related to education funding, workforce development, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 quarter delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services (61) in Louisiana (LAEDCATRQGSP), retrieved from FRED.