Personal Contributions for Social Insurance in Nebraska
NEOSOC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,819.00
Year-over-Year Change
16.68%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Personal Contributions for Social Insurance in Nebraska' metric tracks the total amount contributed by individuals in Nebraska to social insurance programs such as Social Security and Medicare. This data provides insight into the financial burden and participation of Nebraska residents in the social safety net.
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 series represents the total dollar value of mandatory payroll deductions and contributions made by Nebraska residents to fund social insurance programs. It is an important indicator of the population's engagement with and reliance on government-provided retirement, disability, and healthcare benefits.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of personal income and payroll deductions.
Historical Context
Policymakers and economists analyze this metric to understand the financial pressures on Nebraska households and the overall health of the state's social insurance system.
Key Facts
- Nebraska residents contributed over $7 billion to social insurance programs in 2021.
- Social Security and Medicare account for over 90% of personal social insurance contributions in Nebraska.
- Per capita contributions in Nebraska are slightly below the national average.
FAQs
Q: What does this economic trend measure?
A: The 'Personal Contributions for Social Insurance in Nebraska' metric tracks the total mandatory payroll deductions and contributions made by Nebraska residents to fund social insurance programs like Social Security and Medicare.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial burden on Nebraska households and their participation in the social safety net, which is critical information for policymakers and economists assessing the health of the state's social insurance system.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of personal income and payroll deductions.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this metric to understand the financial pressures on Nebraska households and the overall health of the state's social insurance system, which informs decisions around social programs, taxation, and economic development.
Q: Are there update delays or limitations?
A: The data is reported quarterly with a lag of several months, and may not capture the full scope of social insurance contributions from self-employed or informal workers.
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Citation
U.S. Federal Reserve, Personal Contributions for Social Insurance in Nebraska (NEOSOC), retrieved from FRED.