Mean Adjusted Gross Income for Alabama
This dataset tracks mean adjusted gross income for alabama over time.
Latest Value
78000.00
Year-over-Year Change
56.27%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Alabama is a key metric that measures the average income reported on tax returns filed by Alabama residents. This statistic is important for economists and policymakers to understand income trends and distribution within the state.
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
The Mean Adjusted Gross Income for Alabama represents the average amount of income reported on tax returns filed by individuals living in the state. It provides insight into the overall economic well-being and standard of living for Alabama residents compared to national averages.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
This economic trend is widely used by government agencies, research institutions, and market analysts to assess Alabama's economic performance and inform policy decisions.
Key Facts
- The mean AGI for Alabama was $50,209 in the most recent year.
- Alabama's mean AGI is below the national average of $54,657.
- Income levels vary significantly across different regions of Alabama.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Alabama measures the average income reported on individual tax returns filed by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall economic well-being and standard of living for Alabama residents, which is crucial information for policymakers, researchers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: This economic trend is widely used by government agencies, research institutions, and market analysts to assess Alabama's economic performance and inform policy decisions related to taxation, social programs, and economic development.
Q: Are there update delays or limitations?
A: There may be a delay of several months between the end of the tax year and the publication of the latest data, as the Census Bureau compiles and processes the tax return information.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Alabama (MEANAGIAL1A052NCEN), retrieved from FRED.