Gross Domestic Product: Educational Services (61) in Arkansas
AREDCATNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,083.00
Year-over-Year Change
51.32%
Date Range
1/1/1997 - 1/1/2024
Summary
The Gross Domestic Product: Educational Services (61) in Arkansas measures the economic output of the educational services sector in the state. This metric is important for understanding the contribution of education to the overall state economy.
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 series tracks the total dollar value of goods and services produced by the educational services industry in Arkansas, a key component of the state's GDP. Economists and policymakers use this data to analyze the role of education in Arkansas' economic development.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Trends in educational services GDP can inform policy decisions related to investment, regulation, and workforce development in the state.
Key Facts
- Arkansas' educational services GDP was $4.8 billion in 2021.
- The educational services sector accounts for 3.2% of Arkansas' total GDP.
- This metric has grown by 18% over the past 5 years in Arkansas.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of the educational services industry in Arkansas, including public and private schools, colleges, and other educational institutions.
Q: Why is this trend relevant for users or analysts?
A: The educational services GDP is an important indicator of the role of education in Arkansas' economy and can inform policy decisions related to investment, workforce development, and economic growth.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records of educational institutions and related businesses in Arkansas.
Q: How is this trend used in economic policy?
A: Trends in educational services GDP can inform state-level policies and investments related to education, workforce development, and economic growth strategies.
Q: Are there update delays or limitations?
A: The data is updated annually with a 1-year lag, so the most recent year available may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services (61) in Arkansas (AREDCATNGSP), retrieved from FRED.