All Employees: Social Assistance in Massachusetts
SMU25000006562400001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148.80
Year-over-Year Change
40.78%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend measures total employment in the social assistance industry in Massachusetts. It provides insights into the labor market and service sector in the state.
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: Social Assistance in Massachusetts series tracks the total number of workers employed in social assistance services, including individual and family services, community food and housing, and vocational rehabilitation. This metric is used to analyze the health and dynamics of the state's service economy.
Methodology
The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Historical Context
Policymakers and analysts monitor this trend to understand economic conditions and labor market trends in Massachusetts.
Key Facts
- Massachusetts has the 6th largest social assistance workforce in the U.S.
- Social assistance jobs account for 3.5% of total employment in Massachusetts.
- Employment in this sector has grown by 12% in the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures total employment in the social assistance industry in the state of Massachusetts, including jobs in individual and family services, community food and housing, and vocational rehabilitation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the health and dynamics of Massachusetts' service economy, as social assistance is a key component of the state's labor market.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) program by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to understand economic conditions and labor market trends in Massachusetts, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, All Employees: Social Assistance in Massachusetts (SMU25000006562400001A), retrieved from FRED.