Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Louisiana
LAEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,629.40
Year-over-Year Change
34.06%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the real gross domestic product (GDP) of the educational services, healthcare, and social assistance sectors in Louisiana. It is an important indicator for understanding the strength and performance of these key industries within the state's economy.
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 Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Louisiana metric tracks the inflation-adjusted economic output of these sectors, which are vital components of Louisiana's economy. This data is used by economists, policymakers, and industry analysts to assess the health and growth of these industries.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Historical Context
This economic trend is relevant for understanding the policy environment and investment opportunities in Louisiana's education, healthcare, and social assistance industries.
Key Facts
- Louisiana's education, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- This trend has grown by an average of 2.5% annually over the past decade.
- The healthcare industry is the largest employer in Louisiana, providing over 250,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the educational services, healthcare, and social assistance sectors in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the performance and growth of key industries that are vital to Louisiana's economy and the well-being of its residents.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and industry analysts to assess the health and growth potential of Louisiana's education, healthcare, and social assistance sectors, which have significant implications for the state's overall economic development.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Louisiana (LAEDHLTHSOCASSRGSP), retrieved from FRED.