Real Per Capita Personal Income for Arizona
AZRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,373.00
Year-over-Year Change
33.77%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Arizona measures the average inflation-adjusted income per person in the state. It is a key economic indicator used to assess the standard of living and purchasing power of Arizona residents.
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 trend represents the total personal income earned by Arizona residents, adjusted for inflation and divided by the state's population. It provides insights into the economic well-being and consumption patterns of Arizona's population.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a combination of household surveys and administrative records.
Historical Context
Policymakers and analysts use this metric to inform economic and social policies aimed at improving the financial security and quality of life for Arizona residents.
Key Facts
- Arizona's real per capita personal income was $54,210 in 2021.
- The state's real per capita personal income has grown by 17% over the past decade.
- Arizona's real per capita personal income is slightly lower than the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Arizona measures the average inflation-adjusted income earned by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of Arizona's population, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a combination of household surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to inform economic and social policies aimed at improving the financial security and quality of life for Arizona residents.
Q: Are there update delays or limitations?
A: The data is updated annually, with the most recent year's figures typically released within a few months.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Arizona (AZRPIPC), retrieved from FRED.