Total Personal Income in Maryland
MDOTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
507,754.50
Year-over-Year Change
18.26%
Date Range
1/1/1948 - 1/1/2025
Summary
Total Personal Income in Maryland measures the aggregate personal income of residents in the state. It is a key indicator of economic well-being and consumer spending power.
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
Total Personal Income in Maryland represents the sum of all income received by individuals, including wages, salaries, dividends, interest, rents, and government benefits. This metric is widely used by economists and policymakers to assess the overall health and growth of the state's economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
Changes in Total Personal Income in Maryland are closely watched by businesses, investors, and government officials to gauge consumer demand and inform economic policy decisions.
Key Facts
- Maryland's total personal income reached a record high of $419 billion in 2021.
- Personal income growth in Maryland has outpaced the national average in recent years.
- The largest sources of personal income in Maryland are wages and salaries, followed by government transfer payments.
FAQs
Q: What does this economic trend measure?
A: Total Personal Income in Maryland measures the aggregate income received by all residents of the state, including wages, salaries, dividends, interest, rents, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: Total Personal Income in Maryland is a key indicator of the state's economic well-being and consumer spending power, which is closely watched by businesses, investors, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Changes in Total Personal Income in Maryland are used by government officials and policymakers to gauge consumer demand and inform economic policy decisions, such as tax and spending policies.
Q: Are there update delays or limitations?
A: The Total Personal Income in Maryland data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months.
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Citation
U.S. Federal Reserve, Total Personal Income in Maryland (MDOTOT), retrieved from FRED.