Health Care and Social Assistance Wages and Salaries in North Carolina
NCWHEA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,098,102.00
Year-over-Year Change
23.50%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Health Care and Social Assistance Wages and Salaries in North Carolina' series measures the total compensation paid to employees in the health care and social assistance sector within the state of North Carolina. This data provides insight into economic conditions and workforce trends in a key 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 economic indicator tracks the monthly total wages and salaries paid to workers in the health care and social assistance sector, which includes hospitals, nursing homes, doctors' offices, and social service organizations. It serves as a useful barometer for analyzing labor market dynamics and consumer spending patterns in North Carolina.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Historical Context
Policymakers and analysts use this metric to assess the health of North Carolina's economy and make informed decisions about economic policies and social programs.
Key Facts
- North Carolina's health care and social assistance sector employs over 600,000 workers.
- Wages in this industry have grown by 3.5% annually over the past 5 years.
- The health care sector accounts for 13% of North Carolina's total GDP.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total wages and salaries paid to employees in the health care and social assistance industry within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into labor market conditions and consumer spending patterns in a key sector of North Carolina's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics based on surveys of employers.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of North Carolina's economy and make informed decisions about economic policies and social programs.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 6 weeks.
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Citation
U.S. Federal Reserve, Health Care and Social Assistance Wages and Salaries in North Carolina (NCWHEA), retrieved from FRED.