Health Care and Social Assistance Earnings in Minnesota
MNEHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,977,281.00
Year-over-Year Change
22.29%
Date Range
1/1/1998 - 1/1/2025
Summary
The Health Care and Social Assistance Earnings in Minnesota trend measures the average hourly earnings in this major economic sector within the state. It provides insight into wage dynamics and labor market conditions in a key service industry.
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 earnings for workers in Minnesota's health care and social assistance industries, which includes hospitals, nursing homes, and social service providers. It is an important indicator of economic well-being and employment trends in a crucial sector of the state's economy.
Methodology
The data is collected through surveys of employers by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts use this data to understand labor market conditions and cost pressures in Minnesota's health and social services industries.
Key Facts
- Minnesota's health care and social assistance sector employs over 500,000 workers.
- Earnings in this industry have grown over 3% annually in recent years.
- The sector accounts for nearly 15% of Minnesota's total employment.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average hourly earnings of workers in Minnesota's health care and social assistance industries, including hospitals, nursing homes, and social service providers.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into wage dynamics and labor market conditions in a crucial sector of Minnesota's economy, which is important for understanding economic well-being and employment trends.
Q: How is this data collected or calculated?
A: The data is collected through employer surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand labor market conditions and cost pressures in Minnesota's health and social services industries, which is relevant for policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delay in publication compared to the reference period.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Earnings in Minnesota (MNEHEA), retrieved from FRED.