All Employees: Social Assistance: Services for the Elderly and Persons with Disabilities in New York
SMU36000006562412001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
241.40
Year-over-Year Change
84.70%
Date Range
1/1/2003 - 1/1/2024
Summary
This economic trend measures the number of employees in the social assistance industry, specifically focused on services for the elderly and persons with disabilities in the state of New York. It is a key indicator for understanding the labor market and demand for specialized care services.
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: Services for the Elderly and Persons with Disabilities in New York data series tracks the employment levels in this specialized social assistance subsector. It provides insight into the size and trends of the workforce supporting vulnerable populations in New York.
Methodology
The data is collected through surveys of business establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used by policymakers, economists, and industry analysts to assess the state of the long-term care and disability services sector in New York.
Key Facts
- New York has the second-largest social assistance workforce in the U.S.
- Employment in this sector has grown by over 20% in the past decade.
- The aging population is driving increased demand for these specialized services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of employees working in the social assistance industry, specifically focused on services for the elderly and persons with disabilities in the state of New York.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the labor market and demand for specialized long-term care and disability services in New York, which is crucial information for policymakers, economists, and industry stakeholders.
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 employment trend is used by policymakers, economists, and industry analysts to assess the state of the long-term care and disability services sector in New York and inform relevant policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Social Assistance: Services for the Elderly and Persons with Disabilities in New York (SMU36000006562412001A), retrieved from FRED.