Real Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana
LAHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21,954.80
Year-over-Year Change
38.13%
Date Range
1/1/1997 - 1/1/2024
Summary
This trend measures the real gross domestic product (GDP) of the health care and social assistance sector in Louisiana. It provides insights into the economic performance and growth of this crucial industry in the state.
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 Real Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana trend tracks the inflation-adjusted economic output of the health care and social assistance industry, which includes hospitals, nursing and residential care facilities, and social assistance providers. This metric is used by economists and policymakers to assess the strength and contribution of this sector to the state's overall economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Historical Context
This trend is relevant for understanding the economic health and resilience of Louisiana's health care industry, which is a significant employer and service provider in the state.
Key Facts
- Health care and social assistance accounts for over 11% of Louisiana's GDP.
- This sector has shown steady growth in Louisiana, even during economic downturns.
- The health care industry is a major employer in the state, providing over 250,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the health care and social assistance sector in the state of Louisiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the economic performance and growth of a crucial industry in Louisiana, which is a significant employer and service provider in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national income and product accounts.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the economic health and resilience of Louisiana's health care industry, which is important for policymakers and economic analysts.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness and limitations of the national income and product accounts published by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Louisiana (LAHLTHSOCASSRGSP), retrieved from FRED.