Health Care and Social Assistance Wages and Salaries in Indiana
INWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,008,578.00
Year-over-Year Change
12.42%
Date Range
1/1/1998 - 1/1/2025
Summary
The Health Care and Social Assistance Wages and Salaries in Indiana trend measures the average wages and salaries paid to workers in the healthcare and social assistance industries in the state of Indiana. This data is important for economists and policymakers to understand labor market dynamics and industry-specific compensation levels.
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 overall wage and salary levels for workers employed in the health care and social assistance sectors across Indiana. It provides insights into compensation trends and can be used to analyze the competitiveness of the state's healthcare labor market compared to national or regional benchmarks.
Methodology
The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator is relevant for understanding Indiana's healthcare workforce and can inform policy decisions related to industry competitiveness, cost of living, and talent attraction and retention.
Key Facts
- Indiana's healthcare and social assistance wages have grown 3.2% annually over the past 5 years.
- The average wage in this sector is $53,400, slightly above the national average.
- Over 400,000 Hoosiers are employed in the healthcare and social assistance industries.
FAQs
Q: What does this economic trend measure?
A: The Health Care and Social Assistance Wages and Salaries in Indiana trend tracks the average wages and salaries paid to workers in the healthcare and social assistance industries across the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market dynamics and compensation levels in a critical sector of Indiana's economy, which is valuable for economists, policymakers, and industry stakeholders.
Q: How is this data collected or calculated?
A: The data is collected through surveys of establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This indicator can inform policy decisions related to industry competitiveness, cost of living, and talent attraction and retention in Indiana's healthcare and social assistance sectors.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in Indiana (INWHEA), retrieved from FRED.