All Employees: Health Care: Offices of Physicians in Massachusetts
SMU25000006562110001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59.20
Year-over-Year Change
9.43%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures the total number of employees in offices of physicians in Massachusetts, providing insights into the state's healthcare industry and labor market.
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: Offices of Physicians in Massachusetts trend tracks the employment levels in physician offices across the state, serving as an indicator of healthcare sector activity and economic conditions.
Methodology
The data is collected through surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used by policymakers, economists, and healthcare industry analysts to monitor the economic health and labor market dynamics of the medical services sector in Massachusetts.
Key Facts
- Massachusetts has the 3rd highest concentration of physicians in the U.S.
- Healthcare is the largest private-sector employer in Massachusetts.
- Physician office employment accounts for over 40% of the state's healthcare workforce.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of employees in offices of physicians across the state of Massachusetts, providing insights into the healthcare industry's labor market.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the economic conditions and employment dynamics in the healthcare sector, which is a key driver of the Massachusetts 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: Policymakers, economists, and healthcare industry analysts use this trend to monitor the performance and labor market conditions of the medical services sector in Massachusetts.
Q: Are there update delays or limitations?
A: The data is subject to regular updates by the U.S. Bureau of Labor Statistics, but may have a delay of several months before becoming available.
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Citation
U.S. Federal Reserve, All Employees: Health Care: Offices of Physicians in Massachusetts (SMU25000006562110001A), retrieved from FRED.