Mean Adjusted Gross Income for Florida
This dataset tracks mean adjusted gross income for florida over time.
Latest Value
104000.00
Year-over-Year Change
104.14%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Florida measures the average income reported on individual tax returns in the state. This economic indicator is widely used by policymakers and analysts to assess economic well-being and guide policy decisions.
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 Florida represents the mean value of the Adjusted Gross Income (AGI) reported by individual taxpayers in the state. AGI is a key measure of personal income that is used to determine tax liabilities and assess economic conditions.
Methodology
The data is collected annually by the U.S. Census Bureau from individual tax return filings.
Historical Context
This metric is closely monitored by economists, policymakers, and market analysts to gauge consumer spending power and economic trends in Florida.
Key Facts
- The mean AGI in Florida was $57,810 in 2020.
- AGI has increased by 23% in Florida over the past decade.
- Florida has the 4th highest mean AGI among U.S. states.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Florida measures the average income reported on individual tax returns in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and consumer spending power in Florida, providing valuable insights for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau from individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor the Mean Adjusted Gross Income for Florida to assess the state's economic conditions and guide policy decisions related to taxation, spending, and economic development.
Q: Are there update delays or limitations?
A: The data is released annually with a slight delay, as it is based on individual tax return filings.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Florida (MEANAGIFL12A052NCEN), retrieved from FRED.