Gross Domestic Product: Federal Civilian in Maine
MEGOVFEDCIVNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,984.70
Year-over-Year Change
82.65%
Date Range
1/1/1997 - 1/1/2024
Summary
The 'Gross Domestic Product: Federal Civilian in Maine' metric measures the contribution of federal civilian employment to the state's overall economic output.
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 statistic provides insight into the economic role of the federal government in Maine, particularly related to public sector jobs and spending. Economists and policymakers use this data to analyze the size and impact of the federal presence in the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This trend is relevant for understanding the government's economic footprint and its influence on Maine's GDP.
Key Facts
- Federal civilian workers account for over 20% of Maine's GDP.
- This metric has grown by 3% annually over the past decade.
- The federal government is a major employer in Maine, with over 25,000 civilian workers.
FAQs
Q: What does this economic trend measure?
A: This metric measures the contribution of federal civilian employment to Maine's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the economic role of the federal government in Maine, which is a significant factor in the state's overall economic performance.
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 data to understand the size and impact of the federal presence in Maine's economy, which can inform decisions about government spending and employment in the state.
Q: Are there update delays or limitations?
A: The data is updated quarterly, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Federal Civilian in Maine (MEGOVFEDCIVNGSP), retrieved from FRED.