Personal Contributions for Social Insurance in Indiana
INOSOC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
34,968.50
Year-over-Year Change
15.03%
Date Range
1/1/1948 - 1/1/2025
Summary
The Personal Contributions for Social Insurance in Indiana trend measures the amount of mandatory payments made by Indiana residents to social insurance programs, such as Social Security and Medicare. This data provides insights into the state's employment and economic conditions.
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 contributions for social insurance made by Indiana residents, including employer and employee payments. It serves as an indicator of economic activity and labor force participation in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Policymakers and economists use this trend to assess the health of Indiana's labor market and social insurance programs.
Key Facts
- Indiana's personal contributions for social insurance totaled $36.5 billion in 2020.
- Social insurance contributions in Indiana have grown by 22% over the past decade.
- Personal contributions account for over 10% of Indiana's total personal income.
FAQs
Q: What does this economic trend measure?
A: The Personal Contributions for Social Insurance in Indiana trend measures the mandatory payments made by Indiana residents to social insurance programs, such as Social Security and Medicare.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Indiana's employment and economic conditions, as it reflects the labor force participation and income levels in the state.
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.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health of Indiana's labor market and social insurance programs, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, and there may be some delays in reporting due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Personal Contributions for Social Insurance in Indiana (INOSOC), retrieved from FRED.