Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana
Annual, Not Seasonally Adjusted
LAHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,358.60
Year-over-Year Change
75.73%
Date Range
1/1/1997 - 1/1/2024
Summary
This annual, not seasonally adjusted data series measures employer-provided social benefits for the private sector in the United States. It is a key indicator of workforce compensation and benefits trends.
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 Annual Not Seasonally Adjusted series tracks the value of employer-provided social benefits such as healthcare, life insurance, and retirement contributions. This data provides insights into the overall labor costs and benefits landscape for private-sector firms.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Historical Context
Economists and policymakers use this data to analyze workforce compensation and benefit trends over time.
Key Facts
- The data is reported annually, not seasonally adjusted.
- It covers employer-provided social benefits in the private sector.
- Benefits include healthcare, life insurance, and retirement contributions.
FAQs
Q: What does this economic trend measure?
A: This data series measures the value of employer-provided social benefits for private-sector workers in the United States, including healthcare, life insurance, and retirement contributions.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into workforce compensation and benefits trends, which are important for understanding overall labor costs and the competitiveness of employer benefit packages.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Employer Costs for Employee Compensation survey.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this data to analyze workforce compensation and benefit trends over time, which can inform decisions around labor market policies and regulations.
Q: Are there update delays or limitations?
A: The data is reported annually, with a delay of several months, and is not seasonally adjusted.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (LAHLTHSOCASSNGSP), retrieved from FRED.