Mean Personal Income in West Census Region
This dataset tracks mean personal income in west census region over time.
Latest Value
66780.00
Year-over-Year Change
63.12%
Date Range
1/1/1974 - 1/1/2023
Summary
Tracks average personal income levels in the Western United States. Provides critical economic insights into regional economic performance.
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 metric measures the mean personal income for individuals in the West Census Region. It helps economists understand regional economic health and trends.
Methodology
Calculated using comprehensive income data from U.S. Census Bureau surveys.
Historical Context
Used by policymakers to assess regional economic conditions and development strategies.
Key Facts
- Represents average personal income in Western states
- Helps track regional economic performance
- Useful for comparative economic analysis
FAQs
Q: What states are included in the West Census Region?
A: Includes Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.
Q: How is personal income calculated?
A: Includes wages, salaries, investments, and other income sources before taxes.
Q: Why track regional income levels?
A: Helps understand economic disparities and regional economic health.
Q: How often is this data updated?
A: Typically updated quarterly by the U.S. Census Bureau.
Q: What factors influence regional income levels?
A: Industry composition, job market, cost of living, and economic policies impact regional incomes.
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Citation
U.S. Federal Reserve, Mean Personal Income in West Census Region (MAPAINUSWEA646N), retrieved from FRED.