Total Expenses for Nursing and Residential Care Facilities, All Establishments
EXP623ALLEST144QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84,399.00
Year-over-Year Change
30.00%
Date Range
10/1/2004 - 1/1/2025
Summary
This economic trend measures total expenses for nursing and residential care facilities across all establishments in the United States. It is an important indicator of activity and costs within the long-term care industry.
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 total expenses for nursing and residential care facilities metric captures the aggregated operating costs, including labor, supplies, and other overhead, for establishments providing residential nursing and long-term care services. This data is used by economists and policymakers to analyze trends and dynamics in the senior care sector.
Methodology
The data is collected through quarterly surveys of nursing and residential care facilities by the U.S. Census Bureau.
Historical Context
This trend is closely watched by analysts and policymakers to understand cost pressures and market conditions in the long-term care industry.
Key Facts
- Expenses for nursing and residential care facilities totaled over $280 billion in 2021.
- The industry employs over 4 million workers in the United States.
- Long-term care spending accounts for over 5% of total U.S. health expenditures.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total operating expenses for nursing and residential care facilities across the United States, including costs for labor, supplies, and other overhead.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding activity, cost pressures, and market dynamics within the long-term care industry, which is a critical part of the U.S. healthcare system.
Q: How is this data collected or calculated?
A: The data is collected through quarterly surveys of nursing and residential care facilities conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this trend to assess cost pressures, industry performance, and the potential impact on healthcare spending and the broader economy.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of approximately two months.
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Citation
U.S. Federal Reserve, Total Expenses for Nursing and Residential Care Facilities, All Establishments (EXP623ALLEST144QNSA), retrieved from FRED.