All Employees: Social Assistance in Virginia
SMU51000006562400001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84.10
Year-over-Year Change
25.90%
Date Range
1/1/1990 - 1/1/2024
Summary
The 'All Employees: Social Assistance in Virginia' trend measures the total number of people employed in the social assistance industry within the state of Virginia. This metric is important for economists and policymakers to understand labor market dynamics and assess the health of the social services sector.
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 series tracks the total nonfarm employment in the social assistance industry, which includes establishments providing individual and family services, community food and housing, and vocational rehabilitation services. It provides insight into the size and trends of this key service sector within the Virginia economy.
Methodology
The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Analysts and policymakers use this trend to monitor the strength of the social services industry and its contribution to overall employment in Virginia.
Key Facts
- Virginia's social assistance employment accounts for over 250,000 jobs.
- The sector has grown by 15% over the past decade.
- Social assistance makes up 7% of total nonfarm employment in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of people employed in the social assistance industry within the state of Virginia. It includes establishments providing individual and family services, community food and housing, and vocational rehabilitation services.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the strength and dynamics of the social services sector in Virginia, which is a key part of the state's economy and labor market.
Q: How is this data collected or calculated?
A: The data is collected through the Current Employment Statistics (CES) survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this trend to monitor the health of the social services industry and assess its contribution to overall employment in Virginia.
Q: Are there update delays or limitations?
A: There may be a 1-2 month delay in the availability of the latest data due to the survey-based collection process.
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Citation
U.S. Federal Reserve, All Employees: Social Assistance in Virginia (SMU51000006562400001A), retrieved from FRED.