Personal Contributions for Social Insurance in Rhode Island
RIOSOC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,699.10
Year-over-Year Change
17.01%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Personal Contributions for Social Insurance in Rhode Island' trend measures the total amount of social insurance contributions made by individuals in the state of Rhode Island. This data provides insights into the state's social welfare programs and labor market dynamics.
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 represents the total personal contributions for social insurance programs in Rhode Island, such as Social Security, Medicare, and unemployment insurance. It is used by economists and policymakers to analyze trends in social welfare funding, income distribution, and the overall health of the state's labor market and 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 assessing the funding and utilization of social insurance programs in Rhode Island, which can inform policy decisions and economic forecasting.
Key Facts
- Rhode Island's personal social insurance contributions totaled $5.2 billion in 2021.
- Contributions have grown by an average of 3.5% annually over the past decade.
- Social insurance programs account for over 10% of Rhode Island's personal income.
FAQs
Q: What does this economic trend measure?
A: The 'Personal Contributions for Social Insurance in Rhode Island' trend measures the total amount of social insurance contributions made by individuals in the state, including for programs like Social Security, Medicare, and unemployment insurance.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the funding and utilization of social welfare programs in Rhode Island, which is crucial information for economists, policymakers, and anyone analyzing the state's labor market and economic conditions.
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: This trend is used by economists and policymakers to assess the funding and enrollment in social insurance programs, which can inform decisions about social welfare policies, labor market regulations, and economic development initiatives in Rhode Island.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of approximately two to three months, so there may be a short delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Personal Contributions for Social Insurance in Rhode Island (RIOSOC), retrieved from FRED.