Gross Domestic Product: Health Care and Social Assistance (62) in Rhode Island
Annual, Not Seasonally Adjusted
RIHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,350.00
Year-over-Year Change
57.11%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic indicator measures annual, not seasonally adjusted state and local government social insurance and retirement contributions. It provides insights into public sector compensation and labor costs.
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 state and local government social insurance and retirement contributions metric tracks mandatory payments by state and local governments into social insurance and retirement programs on behalf of their employees. This data is used to analyze public sector employment trends and fiscal policy.
Methodology
This data is collected by the U.S. Bureau of Economic Analysis through surveys of state and local government agencies.
Historical Context
Policymakers and economists monitor this metric to understand the labor costs and budgetary pressures facing state and local governments.
Key Facts
- This data is reported on an annual basis.
- Contributions can include Social Security, Medicare, and public pension payments.
- The metric excludes federal government social insurance and retirement costs.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the annual, not seasonally adjusted state and local government contributions to social insurance and retirement programs for their employees.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into public sector labor costs and compensation, which are important for understanding state and local government budgets and fiscal policy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of state and local government agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to analyze the budgetary pressures and labor cost dynamics facing state and local governments.
Q: Are there update delays or limitations?
A: This data is reported on an annual basis, so there may be delays in availability compared to more frequently updated economic indicators.
Related Trends
Labor Force Participation Rate for Rhode Island
LBSSA44
Real Gross Domestic Product: Rail Transportation (482) in Rhode Island
RIRAILTRANRGSP
Real Value-Added Output for Private Nonfarm in Rhode Island
IPUZNT010440000
State Government Tax Collections, Amusements Licenses in Rhode Island
RIAMSLICTAX
Estimated Percent of People of All Ages in Poverty for Rhode Island
PPAARI44000A156NCEN
Poverty Universe, All Ages for Rhode Island
PUAARI44000A647NCEN
Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (RIHLTHSOCASSNGSP), retrieved from FRED.