Mean Adjusted Gross Income for Kansas
MEANAGIKS20A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
88,000.00
Year-over-Year Change
51.42%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Kansas measures the average income reported on tax returns by Kansas residents. This key economic indicator provides insights into the overall prosperity and standard of living 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 Kansas represents the arithmetic mean of all adjusted gross incomes reported on individual income tax returns filed by Kansas residents. This metric is widely used by economists and policymakers to analyze income trends and inform economic and fiscal policies in the state.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
Trends in mean adjusted gross income are closely monitored by state governments, businesses, and financial analysts to assess the economic health and consumer spending power of Kansas residents.
Key Facts
- The mean adjusted gross income for Kansas was $58,425 in 2020.
- Kansas ranked 23rd among U.S. states in mean adjusted gross income in 2020.
- The mean adjusted gross income in Kansas has grown by 12% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Kansas measures the average income reported on individual tax returns by residents of the state of Kansas.
Q: Why is this trend relevant for users or analysts?
A: Trends in mean adjusted gross income provide important insights into the overall economic well-being and purchasing power of Kansas residents, which is vital information for policymakers, businesses, and financial analysts.
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: Policymakers in Kansas closely monitor trends in mean adjusted gross income to inform decisions on taxation, spending, and economic development initiatives aimed at improving the financial well-being of state residents.
Q: Are there update delays or limitations?
A: The mean adjusted gross income data for Kansas is published annually with a lag of approximately one year, reflecting the time required for individual tax return processing and data aggregation.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Kansas (MEANAGIKS20A052NCEN), retrieved from FRED.