Real Gross Domestic Product: Health Care and Social Assistance (62) in Wisconsin
WIHLTHSOCASSRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,234.60
Year-over-Year Change
7.12%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the health care and social assistance industry in Wisconsin. It provides insights into the economic performance and growth of this key 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 Real Gross Domestic Product: Health Care and Social Assistance (62) in Wisconsin series represents the inflation-adjusted value added by the health care and social assistance industry to the state's overall economic output. This metric is used by economists and policymakers to analyze the industry's contribution to Wisconsin's economic growth and development.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Historical Context
This trend is relevant for understanding the economic health and competitiveness of Wisconsin's health care and social assistance sector, which has important implications for the state's labor market, public policy, and overall economic performance.
Key Facts
- Wisconsin's health care and social assistance sector accounts for over 15% of the state's GDP.
- This industry has experienced steady growth, outpacing the overall state economy in recent years.
- The health care and social assistance sector is a major employer in Wisconsin, providing jobs for over 500,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the health care and social assistance industry in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the economic performance and growth of a key sector in Wisconsin, which has significant implications for the state's labor market, public policy, and overall economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard GDP accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and industry analysts to understand the economic health and competitiveness of Wisconsin's health care and social assistance sector, which is crucial for informing policy decisions and strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Health Care and Social Assistance (62) in Wisconsin (WIHLTHSOCASSRQGSP), retrieved from FRED.