Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana
LAHLTHSOCASSNQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,177.90
Year-over-Year Change
22.18%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the gross domestic product (GDP) of the health care and social assistance sector in Louisiana. It provides insight into the economic activity and contribution of this vital industry within the state.
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 Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana series tracks the total value of goods and services produced by the health care and social assistance industry in the state. This metric is used by economists and policymakers to analyze the economic performance and significance of the health sector in Louisiana.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This trend is relevant for understanding the role of the health care industry in Louisiana's economy and informing policy decisions.
Key Facts
- Louisiana's health care and social assistance sector accounts for 10.5% of the state's GDP.
- This industry employs over 280,000 people in Louisiana, making it a major employer.
- GDP in this sector has grown by 3.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the health care and social assistance sector in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and significance of the health care industry in Louisiana, which is a critical sector for the state's 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 established national accounting principles.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the role of the health care industry in Louisiana's economy and inform policy decisions related to the sector.
Q: Are there update delays or limitations?
A: There may be occasional delays in data updates due to the time required for data collection and analysis by the government statistical agencies.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana (LAHLTHSOCASSNQGSP), retrieved from FRED.