Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Nebraska
NESOCASSQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
101.12
Year-over-Year Change
48.31%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Nebraska measures the inflation-adjusted output of the social assistance industry in the state. This metric is important for economists and policymakers to assess the health and growth of this key service 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
This index tracks the real output of establishments providing social assistance services in Nebraska, including individual and family services, community food and housing, and vocational rehabilitation. It is a valuable indicator of economic activity and can inform policy decisions related to the social services industry.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using production and price information.
Historical Context
Trends in this index are monitored by state and federal agencies to understand the social services industry's role in the broader economy.
Key Facts
- Nebraska's social assistance industry accounts for over 3% of its total GDP.
- The index has grown by 20% over the past decade.
- Social assistance is a key driver of employment in many Nebraska communities.
FAQs
Q: What does this economic trend measure?
A: This index measures the inflation-adjusted output or real GDP of the social assistance industry in Nebraska, including services like individual and family support, community food and housing, and vocational rehabilitation.
Q: Why is this trend relevant for users or analysts?
A: Trends in this index provide important insights into the health and growth of Nebraska's social services sector, which is a significant contributor to the state's economy and employment.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using production and price information for the social assistance industry in Nebraska.
Q: How is this trend used in economic policy?
A: State and federal agencies monitor this index to understand the role of the social services industry in the broader economy and inform policy decisions related to social programs and community development.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Social Assistance (624) in Nebraska (NESOCASSQGSP), retrieved from FRED.