Mean Family Income in South Census Region
This dataset tracks mean family income in south census region over time.
Latest Value
124400.00
Year-over-Year Change
63.28%
Date Range
1/1/1967 - 1/1/2023
Summary
The 'Mean Family Income in South Census Region' trend measures the average household income in the southern United States. This economic indicator is closely watched by policymakers and analysts to understand regional income dynamics and consumer spending patterns.
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 mean family income for the U.S. South Census Region, which includes Alabama, Arkansas, Delaware, District of Columbia, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia. The data is a key indicator of economic well-being and purchasing power in this large and diverse geographic area.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
Trends in regional mean income help policymakers and businesses assess consumer demand and economic conditions in the South.
Key Facts
- The South is the most populous of the four major U.S. Census regions.
- Mean family income in the South has historically trailed the national average.
- Income growth in the South has accelerated in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Mean Family Income in South Census Region' tracks the average household income for the southern United States. It's a key indicator of economic well-being and consumer purchasing power in this large and diverse geographic area.
Q: Why is this trend relevant for users or analysts?
A: Trends in regional mean income help policymakers and businesses assess consumer demand and economic conditions in the South, the most populous U.S. Census region.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Q: How is this trend used in economic policy?
A: Analysts and policymakers closely monitor this metric to understand regional income dynamics and their implications for consumer spending patterns in the South.
Q: Are there update delays or limitations?
A: The data is released annually with a slight delay as it is collected through the Census Bureau's survey.
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Citation
U.S. Federal Reserve, Mean Family Income in South Census Region (MAFAINUSSOA646N), retrieved from FRED.