Mean Adjusted Gross Income for Arkansas
This dataset tracks mean adjusted gross income for arkansas over time.
Latest Value
76000.00
Year-over-Year Change
58.99%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Arkansas metric measures the average total income reported on tax returns by Arkansas residents. This statistic is relevant for understanding income levels and economic trends 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 Arkansas tracks the average adjusted gross income (AGI) reported on individual income tax returns filed by residents of the state of Arkansas. AGI is a key measure of household earnings and economic well-being used by policymakers and analysts.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on tax return filings.
Historical Context
This metric is utilized by economists, state governments, and other stakeholders to analyze income patterns and inform economic policies in Arkansas.
Key Facts
- The mean AGI for Arkansas was $53,291 in 2020.
- Arkansas ranks 47th among U.S. states in mean AGI.
- Mean AGI in Arkansas has grown by 24% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Arkansas metric measures the average total income reported on individual tax returns by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides important insights into income levels and economic conditions within Arkansas, which is useful for policymakers, economists, and other stakeholders.
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 income tax return filings.
Q: How is this trend used in economic policy?
A: Analysts and policymakers utilize this metric to understand income patterns and trends within Arkansas, which can inform economic policies and initiatives at the state level.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the time required for tax return processing and compilation.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Arkansas (MEANAGIAR5A052NCEN), retrieved from FRED.