Consumer Unit Characteristics: Percent Elementary (1-8) by Region: Residence in the Midwest Census Region
CXU980290LB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.00
Year-over-Year Change
-25.00%
Date Range
1/1/1984 - 1/1/2021
Summary
This economic trend measures the percentage of consumer units residing in the Midwest census region that have an elementary school education level (grades 1-8). It provides insights into the educational attainment of households in the Midwest.
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 survey by the U.S. Bureau of Labor Statistics tracks demographic and socioeconomic data on consumer units, which are broadly equivalent to households. This specific series focuses on the educational level of Midwest consumer units, which is a key indicator of the region's human capital and economic potential.
Methodology
The data is collected through in-person interviews as part of the Consumer Expenditure Survey.
Historical Context
Policymakers and analysts use this data to understand regional trends in educational attainment and its implications for workforce development, household income, and economic growth.
Key Facts
- The Midwest region had the highest percentage of consumer units with elementary education in 2022.
- Education levels vary significantly across U.S. census regions.
- Household educational attainment is linked to income, wealth, and economic mobility.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of consumer units residing in the Midwest census region that have an elementary school education level (grades 1-8).
Q: Why is this trend relevant for users or analysts?
A: The educational attainment of households is a key indicator of a region's human capital and economic potential, making this trend relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through in-person interviews as part of the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand regional trends in educational attainment and its implications for workforce development, household income, and economic growth.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 3-month lag, and may be subject to revisions based on updated survey responses.
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Citation
U.S. Bureau of Labor Statistics, Consumer Unit Characteristics: Percent Elementary (1-8) by Region: Residence in the Midwest Census Region (CXU980290LB1103M), retrieved from FRED.