Mean Adjusted Gross Income for Connecticut
This dataset tracks mean adjusted gross income for connecticut over time.
Latest Value
127000.00
Year-over-Year Change
39.97%
Date Range
1/1/1989 - 1/1/2022
Summary
This economic trend measures the mean adjusted gross income (AGI) for taxpayers in the state of Connecticut. It provides important insights into the income levels and economic well-being of Connecticut residents.
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 Connecticut is a key statistic that represents the average income reported on individual tax returns in the state. It is used by economists and policymakers to analyze income trends, gauge economic conditions, and inform tax and fiscal policies.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax filings.
Historical Context
This metric is closely watched by market analysts and government officials to assess the overall economic health and spending power of Connecticut's population.
Key Facts
- Connecticut has one of the highest mean AGIs in the U.S.
- Mean AGI in Connecticut has grown by over 20% in the past decade.
- High-income individuals make up a large portion of Connecticut's taxpayer base.
FAQs
Q: What does this economic trend measure?
A: This trend measures the mean, or average, adjusted gross income (AGI) reported by individual taxpayers in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: The mean AGI for Connecticut provides important insights into the income levels and economic well-being of the state's residents, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax return filings.
Q: How is this trend used in economic policy?
A: This metric is closely watched by government officials to assess the overall economic health and spending power of Connecticut's population, which informs tax and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released with a lag as it is dependent on the completion of individual tax filings in the state.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Connecticut (MEANAGICT9A052NCEN), retrieved from FRED.