Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Ohio
OHEDHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,983.70
Year-over-Year Change
24.85%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the educational services, healthcare, and social assistance sectors in Ohio. It provides insight into the economic performance and growth of these key industries in 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 real GDP for the educational services, healthcare, and social assistance sectors in Ohio represents the total inflation-adjusted economic output of these industries. This metric is used by economists and policymakers to analyze the health and contributions of these vital service sectors to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Historical Context
This trend is relevant for understanding the economic drivers and policy needs of Ohio's education, healthcare, and social services markets.
Key Facts
- Ohio's education, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- This trend has shown steady growth over the past decade, outpacing overall state economic expansion.
- The healthcare industry is the largest component of this trend, making up nearly two-thirds of the total.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the educational services, healthcare, and social assistance sectors in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the economic performance and growth of these key service industries in Ohio, which are crucial to the state's overall economic activity and policy priorities.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their comprehensive GDP reporting.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the economic drivers and policy needs of Ohio's education, healthcare, and social services markets, which are important focus areas for state and local policymakers.
Q: Are there update delays or limitations?
A: There may be typical data publication delays of several months, but the series is regularly updated by the federal statistical agencies.
Related Trends
Residential Carbon Dioxide Emissions, Natural Gas for Ohio
EMISSCO2TOTVRCNGOHA
High-Propensity Business Applications: Total for All NAICS in Ohio
BAHBATOTALNSAOH
Housing Inventory: Price Increased Count Month-Over-Month in Ohio
PRIINCCOUMMOH
Average Weekly Hours of Production Employees: Manufacturing in Ohio
SMU39000003000000007A
State Government Tax Collections, Occupation and Business Licenses in Ohio
OHBUSLICTAX
All Employees: Manufacturing: Durable Goods: Household Appliance Manufacturing in Ohio
SMU39000003133520001SA
Citation
U.S. Federal Reserve, Real Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Ohio (OHEDHLTHSOCASSRGSP), retrieved from FRED.