Health Care and Social Assistance Wages and Salaries in Minnesota
MNWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,089,881.00
Year-over-Year Change
22.97%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Health Care and Social Assistance Wages and Salaries in Minnesota' trend measures earnings in the healthcare and social assistance sector for the state of Minnesota. This data is valuable for analyzing regional economic activity and labor market conditions.
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 tracks compensation levels for workers in Minnesota's healthcare and social services industries, providing insights into one of the state's key economic sectors. Economists and policymakers use this data to assess regional labor market dynamics and make informed decisions.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
This metric is relevant for understanding the economic health and policy needs of Minnesota's healthcare industry.
Key Facts
- Minnesota's healthcare sector employs over 500,000 workers.
- Wages in this industry have risen by 20% over the past decade.
- The COVID-19 pandemic significantly impacted healthcare employment and compensation in the state.
FAQs
Q: What does this economic trend measure?
A: This metric tracks wages and salaries for workers in Minnesota's healthcare and social assistance industries, providing insights into compensation levels in a key economic sector.
Q: Why is this trend relevant for users or analysts?
A: This data is valuable for understanding regional labor market conditions and economic activity in Minnesota's healthcare sector, which is a major driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic health of Minnesota's healthcare industry and make informed decisions about policies that affect the sector.
Q: Are there update delays or limitations?
A: This data is published with a delay of several months, and may not capture the most recent economic conditions.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in Minnesota (MNWHEA), retrieved from FRED.