Consumer Unit Characteristics: Adults 65 and Older by Region: Residence in the Northeast Census Region
CXU980060LB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.40
Year-over-Year Change
0.00%
Date Range
1/1/1984 - 1/1/2022
Summary
This economic trend measures the characteristics of consumer units (households) headed by adults aged 65 and older residing in the Northeastern United States. It provides insights into the living situations and demographics of this key demographic segment.
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 Consumer Unit Characteristics data tracks various attributes of households, including age, income, spending patterns, and living arrangements. The Northeast regional data offers a focused view on the older adult population in this geographic area, which is valuable for policymakers and analysts studying economic and demographic trends.
Methodology
The data is collected through the Consumer Expenditure Survey, a nationwide household survey conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This trend is used to inform economic, social, and policy decisions related to the aging population and regional differences in consumer behavior.
Key Facts
- Over 16% of households in the Northeast are headed by adults 65 and older.
- The average annual income for older adult households in the Northeast is $63,000.
- Older adult households in the Northeast spend more on healthcare than other regions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the characteristics of consumer units (households) headed by adults aged 65 and older who reside in the Northeastern United States.
Q: Why is this trend relevant for users or analysts?
A: The data provides valuable insights into the living situations, demographics, and spending patterns of older adults in the Northeast, which is useful for policymakers, marketers, and economists studying regional economic and social trends.
Q: How is this data collected or calculated?
A: The data is collected through the Consumer Expenditure Survey, a nationwide household survey conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This trend is used to inform economic, social, and policy decisions related to the aging population and regional differences in consumer behavior, such as healthcare spending and retirement planning.
Q: Are there update delays or limitations?
A: The Consumer Expenditure Survey data is updated quarterly, but there may be a 1-2 quarter delay in the release of regional-level statistics like this Northeast-specific trend.
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Citation
U.S. Federal Reserve, Consumer Unit Characteristics: Adults 65 and Older by Region: Residence in the Northeast Census Region (CXU980060LB1102M), retrieved from FRED.