Mean Personal Income in Midwest Census Region
MAPAINUSMWA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,390.00
Year-over-Year Change
64.57%
Date Range
1/1/1974 - 1/1/2023
Summary
The Mean Personal Income in Midwest Census Region measures the average personal income of individuals living in the Midwest region of the United States. This metric is a key indicator of economic well-being and spending power for the Midwest.
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 mean, or average, of all personal income amounts reported by individuals residing in the 12 states that make up the Midwest census region. It is a widely followed economic indicator used to assess regional trends in household finances and consumer activity.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey.
Historical Context
Policymakers and analysts closely monitor regional income trends to understand patterns in consumer demand, tax revenues, and the broader economic health of the Midwest.
Key Facts
- The Midwest region includes 12 states, from Ohio to the Dakotas.
- Personal income has grown by over 50% in the Midwest since 2000.
- Income levels in the Midwest are typically lower than the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Personal Income in Midwest Census Region measures the average personal income for individuals living in the 12-state Midwest region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and consumer spending power in the Midwest, providing insights into regional patterns of household finances and economic health.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor regional income trends to understand patterns in consumer demand, tax revenues, and the broader economic health of the Midwest.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay from the reference period.
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Citation
U.S. Federal Reserve, Mean Personal Income in Midwest Census Region (MAPAINUSMWA646N), retrieved from FRED.