Mean Adjusted Gross Income for Delaware
This dataset tracks mean adjusted gross income for delaware over time.
Latest Value
88500.00
Year-over-Year Change
49.16%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Delaware measures the average reported income of taxpayers in the state. It is a key indicator of economic well-being and standard of living.
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
This data series from the U.S. Internal Revenue Service represents the mean adjusted gross income (AGI) reported on federal tax returns by Delaware residents. The AGI is a commonly used metric that reflects total income minus allowable deductions, providing insight into the financial status of households in the state.
Methodology
The data is calculated annually based on individual income tax returns filed with the IRS.
Historical Context
Policymakers and economists use this metric to assess economic conditions and trends in Delaware.
Key Facts
- Delaware's mean AGI was $78,194 in 2020.
- AGI has increased by 20% in Delaware over the past decade.
- Delaware's mean AGI is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Delaware measures the average reported income of taxpayers in the state, providing insight into economic well-being and standard of living.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding the financial status of households in Delaware and can inform policymaking and economic analysis for the state.
Q: How is this data collected or calculated?
A: The data is calculated annually by the IRS based on individual income tax returns filed by Delaware residents.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess economic conditions and trends in Delaware, which can inform decisions around taxation, spending, and other policies.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, reflecting the time required for tax returns to be filed and processed by the IRS.
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Citation
U.S. Internal Revenue Service, Mean Adjusted Gross Income for Delaware (MEANAGIDE10A052NCEN), retrieved from FRED.