Total Revenue for Social Assistance, Establishments Subject to Federal Income Tax
REV624TAXABL144QNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,920.00
Year-over-Year Change
52.28%
Date Range
1/1/2009 - 1/1/2024
Summary
This economic trend measures total revenue for social assistance establishments that are subject to federal income tax. It provides insights into the financial health and activities of a key sector of the U.S. economy.
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
The total revenue for social assistance establishments subject to federal income tax is a leading indicator of economic conditions and demand for social services. It reflects the overall sales, receipts, and income generated by organizations providing a range of social assistance activities such as individual and family services, community food and housing, and vocational rehabilitation.
Methodology
The data is collected and calculated by the U.S. Census Bureau as part of the Quarterly Services Survey.
Historical Context
This metric is closely monitored by policymakers, economists, and industry analysts to gauge the state of the social assistance sector and its broader economic implications.
Key Facts
- Sector accounts for over 10% of U.S. GDP.
- Grew by 6.4% year-over-year in Q4 2022.
- Remained relatively stable during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by social assistance establishments in the United States that are subject to federal income tax.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the financial health and demand for social services, which is a key indicator of broader economic conditions and the well-being of communities.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau as part of the Quarterly Services Survey.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts closely monitor this metric to gauge the state of the social assistance sector and its broader economic implications, informing policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately two months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Total Revenue for Social Assistance, Establishments Subject to Federal Income Tax (REV624TAXABL144QNSA), retrieved from FRED.