Mean Adjusted Gross Income for California
This dataset tracks mean adjusted gross income for california over time.
Latest Value
112000.00
Year-over-Year Change
70.86%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for California trend measures the average income reported on tax returns filed by California residents. This metric is closely watched by economists and policymakers to understand income and economic trends in 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 California represents the average amount of taxable income reported by California taxpayers in a given year. This figure is used to analyze income distribution, consumer spending power, and overall economic conditions within the state.
Methodology
The data is collected and calculated annually by the U.S. Internal Revenue Service based on individual tax return filings.
Historical Context
Economists and policymakers monitor this trend to inform decisions around taxation, social programs, and economic development in California.
Key Facts
- California has the largest economy in the U.S.
- Income levels vary significantly across different regions of the state.
- The mean AGI has increased by over 50% in the past two decades.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for California measures the average income reported on tax returns filed by California residents in a given year.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely tracked by economists and policymakers to understand income distribution, consumer spending power, and overall economic conditions within the state of California.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Internal Revenue Service based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to inform decisions around taxation, social programs, and economic development in California.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year delay in the release of the mean AGI data as it is compiled from individual tax return filings.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for California (MEANAGICA6A052NCEN), retrieved from FRED.