Real Gross Domestic Product: Health Care and Social Assistance (62) in Wisconsin
Annual, Not Seasonally Adjusted
WIHLTHSOCASSRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,915.70
Year-over-Year Change
28.72%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the annual, not seasonally adjusted gross social assistance revenue for state and local governments in the United States. It provides insight into the funding and scale of social welfare programs across the country.
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 Annual, Not Seasonally Adjusted social assistance revenue data tracks state and local government receipts from social programs such as Medicaid, unemployment insurance, and other public assistance initiatives. It is a key indicator of the resources dedicated to supporting vulnerable populations and the overall strength of the social safety net.
Methodology
The data is collected and reported annually by the U.S. Census Bureau through surveys of state and local government finances.
Historical Context
Analysts and policymakers use this metric to assess the capacity and priorities of government social programs.
Key Facts
- Social assistance revenue reached $935 billion in 2021.
- This funding supports over 80 million Medicaid enrollees nationwide.
- State and local governments account for over 50% of total social welfare spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual, not seasonally adjusted gross social assistance revenue for state and local governments in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the funding and scale of government social welfare programs, which is crucial for understanding the strength of the social safety net and the resources dedicated to supporting vulnerable populations.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau through surveys of state and local government finances.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess the capacity and priorities of government social programs, which informs decisions about funding, resource allocation, and the overall effectiveness of the social safety net.
Q: Are there update delays or limitations?
A: The data is reported annually, with a typical delay of several months between the end of the fiscal year and the release of the final figures.
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Citation
U.S. Federal Reserve, Annual, Not Seasonally Adjusted (WIHLTHSOCASSRGSP), retrieved from FRED.