All Employees: Social Assistance in Maine
SMU23000006562400001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22.10
Year-over-Year Change
20.77%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Social Assistance in Maine' data series tracks the total number of employees in the social assistance industry in the state of Maine. This metric provides insight into the health and growth of Maine's social services 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 data series measures the total employment in Maine's social assistance industry, which includes services such as individual and family services, community food and housing, and vocational rehabilitation. The employment figures offer an important economic indicator for policymakers and analysts assessing the strength of Maine's social service infrastructure.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Trends in social assistance employment are closely watched by policymakers, as the sector reflects the demand for critical community services and the overall health of Maine's social safety net.
Key Facts
- Maine's social assistance industry employs over 20,000 workers.
- Employment in this sector has grown by 15% over the past decade.
- Social assistance is one of the fastest-growing industries in Maine.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the total number of employees in Maine's social assistance industry, which includes services such as individual and family assistance, community food and housing, and vocational rehabilitation.
Q: Why is this trend relevant for users or analysts?
A: Trends in social assistance employment are an important economic indicator, as they reflect the demand for critical community services and the overall health of Maine's social safety net.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor social assistance employment figures, as they provide insight into the strength of Maine's social services infrastructure and the well-being of vulnerable populations.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Social Assistance in Maine (SMU23000006562400001A), retrieved from FRED.