Individual Income Tax Filing: Earned Income Credit Used to Offset Other Taxes
Thousands of U.S. Dollars
ENINCCTOATA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,266,292.00
Year-over-Year Change
108.90%
Date Range
1/1/1999 - 1/1/2016
Summary
The 'Thousands of U.S. Dollars' economic trend measures disposable personal income, a key indicator of consumer spending power and economic growth in the United States.
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 series tracks the total dollar amount of disposable personal income, which is the income available to households for spending or saving after taxes and other deductions. It is a widely used metric to assess consumer financial health and the overall state of the U.S. economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and national accounts.
Historical Context
Disposable personal income is closely monitored by policymakers, economists, and investors to gauge consumer confidence and forecast future economic activity.
Key Facts
- Disposable personal income reached a record high of $19.01 trillion in 2021.
- It has grown by over 40% in the past decade, reflecting rising wages and incomes.
- Fluctuations in disposable income are closely tied to changes in consumer spending.
FAQs
Q: What does this economic trend measure?
A: The 'Thousands of U.S. Dollars' trend measures the total amount of disposable personal income, which is the income available to U.S. households for spending and saving after taxes and other deductions.
Q: Why is this trend relevant for users or analysts?
A: Disposable personal income is a key indicator of consumer financial health and a driver of economic growth, as it directly influences consumer spending and saving patterns.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through household surveys and national accounts.
Q: How is this trend used in economic policy?
A: Disposable personal income is closely monitored by policymakers, economists, and investors to gauge consumer confidence and forecast future economic activity, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released on a monthly basis with a short delay, providing timely information on the state of personal income and consumer finances.
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Citation
U.S. Federal Reserve, Thousands of U.S. Dollars (ENINCCTOATA), retrieved from FRED.