Gross Domestic Product: Health Care and Social Assistance (62) in Missouri
Annual, Not Seasonally Adjusted
MOHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41,925.60
Year-over-Year Change
78.05%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures annual social assistance spending in the United States, including government programs like Medicaid, food stamps, and unemployment benefits. It provides valuable insights into the scope and distribution of social safety net programs.
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 social assistance spending trend tracks total government expenditures on various social welfare programs in the U.S. This metric is widely used by economists and policymakers to analyze the scale and composition of the country's social safety net, as well as how it evolves over time.
Methodology
The data is collected and aggregated by the U.S. Bureau of Economic Analysis using financial reporting from federal, state, and local government agencies.
Historical Context
This economic indicator is closely monitored by government officials, policy analysts, and market participants to assess the reach and effectiveness of social assistance programs.
Key Facts
- Annual social assistance spending in the U.S. was $2.9 trillion in 2021.
- Medicaid accounted for over 60% of total social assistance outlays in 2021.
- Social assistance spending as a percentage of GDP has grown from 10.5% in 2000 to 13.4% in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures total annual government spending on social assistance programs in the United States, including Medicaid, food stamps, unemployment benefits, and other welfare initiatives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the scope and composition of the U.S. social safety net, which is a critical component of economic and social policy. It helps policymakers, economists, and market participants assess the government's role in supporting vulnerable populations.
Q: How is this data collected or calculated?
A: The data is collected and aggregated by the U.S. Bureau of Economic Analysis using financial reporting from federal, state, and local government agencies.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by government officials, policy analysts, and market participants to assess the reach and effectiveness of social assistance programs. It informs debates around the size and structure of the social safety net, as well as its impact on the broader economy.
Q: Are there update delays or limitations?
A: There is typically a 2-3 month delay in the release of this data as the BEA compiles and verifies the information from various government sources.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (MOHLTHSOCASSNGSP), retrieved from FRED.