Real Per Capita Personal Income: Metropolitan Portion for Arkansas
ARMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,583.00
Year-over-Year Change
37.79%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Arkansas measures the inflation-adjusted personal income per person in the state's metropolitan areas. This key economic indicator provides insights into the standard of living and purchasing power of Arkansans.
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 (inflation-adjusted) personal income per capita specifically for the metropolitan portions of Arkansas. It is a widely used gauge of economic well-being and can inform policy decisions around economic development, taxation, and social programs.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population figures.
Historical Context
Policymakers and analysts use this metric to evaluate the economic conditions and trends in Arkansas's urban areas.
Key Facts
- Arkansas's metropolitan real per capita personal income was $48,258 in 2021.
- The metropolitan portion accounts for over 60% of Arkansas's total personal income.
- Real per capita personal income in Arkansas's metro areas has grown by 17% since 2010.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) personal income per person living in the metropolitan areas of Arkansas.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the standard of living and purchasing power of Arkansans residing in urban areas, which can inform economic policy and development decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects personal income and population data to calculate the real per capita personal income for Arkansas's metropolitan portions.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the economic conditions and trends in Arkansas's urban areas, which can guide decisions around taxation, social programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and it may not capture rapid or localized changes in economic conditions within Arkansas's metropolitan areas.
Related Trends
Chain-Type Quantity Index for Real GDP: Plastics and Rubber Products Manufacturing (326) in Arkansas
ARPLASRUBMANQGSP
Real Gross Domestic Product: Health Care and Social Assistance (62) in Arkansas
ARHLTHSOCASSRQGSP
Per Capita Personal Consumption Expenditures: Nondurable Goods: Gasoline and Other Energy Goods for Arkansas
ARPCEPCGAS
Personal Consumption Expenditures: Goods: Durable Goods for Arkansas
ARPCEDURG
Utilities Earnings in Arkansas
AREUTI
Resident Population in Arkansas
ARPOP
Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Arkansas (ARMPRPIPC), retrieved from FRED.