Health Care and Social Assistance Wages and Salaries in Massachusetts
MAWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,968,675.00
Year-over-Year Change
15.83%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Health Care and Social Assistance Wages and Salaries in Massachusetts' metric tracks compensation levels for workers in the healthcare and social services sectors within the state of Massachusetts.
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 data series provides insights into the economic conditions and labor market dynamics within a key industry cluster in the Massachusetts economy. Analyzing trends in healthcare and social assistance wages can help policymakers and researchers understand regional competitiveness and cost-of-living pressures.
Methodology
The data is collected through establishment surveys by the U.S. Bureau of Labor Statistics.
Historical Context
Wage and salary data is important for assessing Massachusetts' economic performance and cost competitiveness.
Key Facts
- Massachusetts has a large healthcare and social assistance sector.
- Wages in this industry have grown steadily over the past decade.
- The data is released monthly with a 1-2 month lag.
FAQs
Q: What does this economic trend measure?
A: This metric tracks wages and salaries paid to workers in the healthcare and social assistance industries within the state of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into labor market conditions and cost pressures in a critical economic sector for Massachusetts.
Q: How is this data collected or calculated?
A: The data is collected through establishment surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to assess regional competitiveness and cost-of-living factors in Massachusetts.
Q: Are there update delays or limitations?
A: The data is released monthly but has a 1-2 month reporting lag.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in Massachusetts (MAWHEA), retrieved from FRED.