Real Mean Personal Income in the United States
This dataset tracks real mean personal income in the united states over time.
Latest Value
63510.00
Year-over-Year Change
21.92%
Date Range
1/1/1974 - 1/1/2023
Summary
The Real Mean Personal Income in the United States measures the average inflation-adjusted income per person in the country. This key economic indicator provides insights into the overall standard of living and purchasing power of the 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
Real Mean Personal Income represents the average income of individuals after accounting for inflation. It is widely used by economists and policymakers to analyze trends in household finances, consumer spending, and the broader economic well-being of the nation.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and the Personal Consumption Expenditures (PCE) price index.
Historical Context
Trends in real mean personal income are closely monitored to inform economic and social policies aimed at improving living standards and supporting consumer-driven economic growth.
Key Facts
- Real mean personal income in the U.S. was $55,322 in 2021.
- Personal income has grown by an average of 2.3% annually over the past decade.
- Inflation-adjusted personal income remains below pre-pandemic levels.
FAQs
Q: What does this economic trend measure?
A: The Real Mean Personal Income in the United States measures the average inflation-adjusted income per person in the country.
Q: Why is this trend relevant for users or analysts?
A: Trends in real mean personal income provide insights into the overall standard of living and purchasing power of the population, which are crucial for understanding consumer behavior and the broader health of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and the Personal Consumption Expenditures (PCE) price index.
Q: How is this trend used in economic policy?
A: Trends in real mean personal income are closely monitored to inform economic and social policies aimed at improving living standards and supporting consumer-driven economic growth.
Q: Are there update delays or limitations?
A: The real mean personal income data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Real Mean Personal Income in the United States (MAPAINUSA672N), retrieved from FRED.