Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Louisiana
LASOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
109.33
Year-over-Year Change
19.85%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Louisiana measures the real output of the social assistance industry in Louisiana. This trend is crucial for economists and policymakers to understand the state's economic growth and the performance of the social services 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
The Chain-Type Quantity Index tracks the real, inflation-adjusted output of the social assistance industry in Louisiana over time. This metric provides insight into the productivity and contribution of the social services sector to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP.
Historical Context
This trend is used by economists, policymakers, and market analysts to assess the health and performance of Louisiana's social assistance industry and its broader economic implications.
Key Facts
- The index is based on 2012 as the reference year.
- Social assistance accounts for approximately 2% of Louisiana's GDP.
- The index has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted output of the social assistance industry in Louisiana. It provides a gauge of the productivity and contribution of the social services sector to the state's overall economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the performance and role of the social assistance industry in Louisiana's economy. It helps economists, policymakers, and market analysts assess the growth and contribution of this sector to the state's overall economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and market analysts to assess the health and performance of Louisiana's social assistance industry and its broader economic implications. It informs policy decisions related to social services, economic development, and workforce planning.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the U.S. Bureau of Economic Analysis, with potential delays in availability. Users should check the latest release dates and notes for any known limitations or revisions.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Louisiana (LASOCASSQGSP), retrieved from FRED.