All Employees: Health Care: Nursing and Residential Care Facilities in Maryland
SMU24000006562300001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70.90
Year-over-Year Change
3.35%
Date Range
1/1/1990 - 1/1/2024
Summary
This trend measures the total number of employees in the nursing and residential care facilities sector in Maryland. It is an important indicator of the health of the healthcare industry and the overall state 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 All Employees: Health Care: Nursing and Residential Care Facilities in Maryland trend represents the total number of people employed in nursing homes, assisted living facilities, and other residential care providers across the state. This data point is frequently used by economists and policymakers to analyze labor market conditions and industry trends within the healthcare sector.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is closely monitored by state and federal agencies to inform economic and healthcare policy decisions.
Key Facts
- Maryland has over 100,000 healthcare workers in nursing and residential care facilities.
- Employment in this sector has grown by 12% over the past 5 years.
- Nursing homes account for the largest share of workers in this industry.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in nursing homes, assisted living facilities, and other residential care providers across the state of Maryland.
Q: Why is this trend relevant for users or analysts?
A: This employment data is an important indicator of the health and growth of the healthcare industry in Maryland, which is a major contributor to the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: State and federal agencies closely monitor this employment trend to inform healthcare and economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Nursing and Residential Care Facilities in Maryland (SMU24000006562300001A), retrieved from FRED.