Real Personal Income: Nonmetropolitan Portion for Alabama
ALNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,856,563.00
Year-over-Year Change
15.08%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Nonmetropolitan Portion for Alabama trend measures the inflation-adjusted personal income of individuals living in non-metropolitan areas of Alabama. This indicator provides insights into the economic well-being and purchasing power of rural populations 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
This series tracks the real, or inflation-adjusted, personal income of people residing in non-metropolitan regions of Alabama. It is a useful gauge of the economic conditions and relative prosperity of rural communities, which can differ significantly from more urban areas.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income statistics and regional price parities.
Historical Context
Policymakers and economists analyze this trend to understand regional economic disparities and develop targeted programs to support non-metropolitan development.
Key Facts
- Alabama's non-metropolitan real personal income was $42,700 in 2021.
- The non-metropolitan portion accounts for 28% of Alabama's total personal income.
- Real personal income growth in non-metropolitan Alabama lagged the statewide average by 0.5 percentage points in the past decade.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income: Nonmetropolitan Portion for Alabama trend measures the inflation-adjusted personal income of individuals living in non-metropolitan areas of the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the economic well-being and purchasing power of rural populations within Alabama, which is useful for policymakers and economists studying regional economic disparities.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income statistics and regional price parities.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand regional economic disparities and develop targeted programs to support non-metropolitan development in Alabama.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, and may not fully capture short-term fluctuations in non-metropolitan personal income.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Alabama (ALNMPRPI), retrieved from FRED.