Per Capita Personal Income in Alabama
ALPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,684.00
Year-over-Year Change
59.41%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Alabama trend measures the average annual income per person in the state. It is a key economic indicator used to assess the standard of living and purchasing power of Alabama's population.
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
Per capita personal income is calculated by dividing the total personal income of state residents by the total state population. This metric provides insights into the overall prosperity and economic well-being of Alabama's citizens.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by policymakers, economists, and market analysts to evaluate Alabama's economic performance and compare it to national averages.
Key Facts
- Alabama's per capita personal income was $51,171 in 2021.
- The state's per capita income is approximately 85% of the national average.
- Personal income growth in Alabama has lagged behind the U.S. as a whole in recent years.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Alabama trend measures the average annual income per person living in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall economic well-being and purchasing power of Alabama's population, which is useful for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate Alabama's economic performance and compare it to national averages, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of several months, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Bureau of Economic Analysis, Per Capita Personal Income in Alabama (ALPCPI), retrieved from FRED.