Real Per Capita Personal Income for Hawaii
HIRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,602.00
Year-over-Year Change
20.50%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Hawaii measures the purchasing power of personal income in the state, adjusted for inflation. It is a key indicator of economic well-being and standard of living for Hawaii residents.
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 represents the average real (inflation-adjusted) personal income per person in the state of Hawaii. It is used by economists and policymakers to track changes in the material prosperity of Hawaii's population over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on personal income statistics and state population estimates.
Historical Context
Trends in real per capita personal income provide important context for assessing the overall economic health and growth of Hawaii's economy.
Key Facts
- Hawaii's real per capita personal income was $56,700 in 2021.
- Real per capita income in Hawaii has grown by over 15% since 2010.
- Hawaii's real per capita income is consistently higher than the U.S. national average.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Hawaii measures the average real (inflation-adjusted) personal income per person in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in real per capita personal income provide important insights into the overall economic well-being and standard of living for Hawaii's population.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on personal income statistics and state population estimates.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the economic health and growth of Hawaii's economy and make informed decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Hawaii (HIRPIPC), retrieved from FRED.