All Employees: Social Assistance: Individual and Family Services in Massachusetts
SMU25000006562410001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100.90
Year-over-Year Change
50.37%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in the social assistance industry, specifically in the individual and family services sector in Massachusetts. It provides insight into the labor market and demand for social services 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 All Employees: Social Assistance: Individual and Family Services in Massachusetts trend tracks the employment levels in organizations that offer a variety of social assistance services to individuals and families, such as counseling, food, housing, and other support. This data is useful for analyzing the healthcare and social services industry in the state.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is relevant for policymakers, researchers, and industry analysts seeking to understand labor market conditions and the demand for social services in Massachusetts.
Key Facts
- The trend reached its highest point of 123,800 employees in January 2020.
- Employment in this sector declined by over 10% during the COVID-19 pandemic.
- Social assistance is one of the fastest-growing industries in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in the social assistance industry, specifically in the individual and family services sector, in the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the labor market and demand for social services in Massachusetts, which is useful for policymakers, researchers, and industry analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the healthcare and social services industry in Massachusetts, which can inform policymaking and resource allocation decisions.
Q: Are there update delays or limitations?
A: The data is published monthly, with typical release lags of one to two months.
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Citation
U.S. Federal Reserve, All Employees: Social Assistance: Individual and Family Services in Massachusetts (SMU25000006562410001A), retrieved from FRED.