Income Before Taxes: Wages and Salaries by Region: Residence in the Midwest Census Region
CXU900000LB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,691.00
Year-over-Year Change
52.69%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures income before taxes, including wages and salaries, for individuals residing in the Midwest census region of the United States. It provides important insights into regional economic conditions and household-level financial well-being.
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 Income Before Taxes: Wages and Salaries by Region metric tracks pre-tax personal income, a key indicator of economic prosperity and consumer purchasing power. This regional data offers valuable context on geographic variations in household finances across the U.S.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to assess economic performance and make informed decisions.
Key Facts
- The Midwest census region includes 12 states, from Ohio to the Dakotas.
- Wages and salaries account for the majority of personal income in the U.S.
- Household income levels vary significantly across different regions of the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures income before taxes, including wages and salaries, for individuals residing in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This regional data on household income and earnings provides valuable insights into economic conditions and financial well-being in the Midwest, which is crucial for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and market analysts to assess regional economic performance and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, with some potential for minor delays in release.
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Citation
U.S. Federal Reserve, Income Before Taxes: Wages and Salaries by Region: Residence in the Midwest Census Region (CXU900000LB1103M), retrieved from FRED.