Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Wisconsin
WIEDHLTHSOCASSNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,151.20
Year-over-Year Change
61.76%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the Gross Domestic Product (GDP) of the educational services, health care, and social assistance sectors in Wisconsin. It provides insight into the productivity and economic importance of these key industries within 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 GDP of the educational services, health care, and social assistance sectors represents the total value of goods and services produced by these industries in Wisconsin. It is a useful indicator of the overall economic health and growth potential of these vital public service sectors.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Historical Context
This GDP trend is closely monitored by policymakers, economists, and industry analysts to understand Wisconsin's economic landscape and guide decision-making.
Key Facts
- Wisconsin's education, healthcare, and social assistance sectors account for over 20% of the state's GDP.
- This industry group has seen steady growth over the past decade, outpacing the overall state economy.
- The COVID-19 pandemic significantly impacted these sectors, leading to volatility in the GDP trend.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) of the educational services, health care, and social assistance sectors in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the productivity and economic importance of these key industries within Wisconsin, which are crucial to the state's overall economic health and growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This GDP trend is closely monitored by policymakers, economists, and industry analysts to understand Wisconsin's economic landscape and guide decision-making.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have some delay in reporting, but it provides a reliable and comprehensive view of the educational services, health care, and social assistance sectors in Wisconsin.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Educational Services, Health Care, and Social Assistance (61, 62) in Wisconsin (WIEDHLTHSOCASSNGSP), retrieved from FRED.