Real Personal Income for District of Columbia
DCRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54,358.60
Year-over-Year Change
38.97%
Date Range
1/1/2008 - 1/1/2023
Summary
The 'Real Personal Income for District of Columbia' measures the total personal income of DC residents, adjusted for inflation. It provides insights into the economic well-being and purchasing power of the district's population.
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 economic indicator tracks the total personal income of individuals living in the District of Columbia, including wages, salaries, investment income, and government transfer payments. It is a key metric for understanding the state of the local economy and consumer spending in the nation's capital.
Methodology
The data is calculated based on personal income estimates from the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists analyze this trend to gauge the financial health and standard of living of DC residents.
Key Facts
- DC's real personal income has grown by over 20% in the past decade.
- Per capita real personal income in DC is significantly higher than the national average.
- The COVID-19 pandemic temporarily reduced real personal income in the district.
FAQs
Q: What does this economic trend measure?
A: The 'Real Personal Income for District of Columbia' measures the total personal income of DC residents, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of the district's population, which is crucial for policymakers and economists analyzing the local economy.
Q: How is this data collected or calculated?
A: The data is calculated based on personal income estimates from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to gauge the financial health and standard of living of DC residents, which informs decisions on economic development, taxation, and social programs.
Q: Are there update delays or limitations?
A: The data is released quarterly with a few months' lag, so it may not reflect the most recent economic conditions in the district.
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Citation
U.S. Federal Reserve, Real Personal Income for District of Columbia (DCRPI), retrieved from FRED.