Mean Adjusted Gross Income for Missouri
This dataset tracks mean adjusted gross income for missouri over time.
Latest Value
82500.00
Year-over-Year Change
53.68%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Missouri measures the average total income reported on tax returns by residents of the state. This metric is an important 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
The Mean Adjusted Gross Income for Missouri represents the mean of all reported adjusted gross incomes (AGI) for individual tax filers residing in the state. AGI is a key measure of household income used in tax policy and economic analysis.
Methodology
The data is collected from individual tax returns filed with the Internal Revenue Service (IRS).
Historical Context
Policymakers and economists analyze trends in Missouri's mean AGI to gauge the economic health and income distribution within the state.
Key Facts
- Missouri's mean AGI in the latest year was $51,672.
- AGI has grown by an average of 2.5% annually over the past decade.
- Missouri's mean AGI is below the national average by around $5,000.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Missouri measures the average total income reported on individual tax returns by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall economic well-being and standard of living within Missouri, which is useful for policymakers, researchers, and residents.
Q: How is this data collected or calculated?
A: The data is collected from individual tax returns filed with the Internal Revenue Service (IRS).
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze trends in Missouri's mean AGI to assess the state's economic health and guide decisions around tax policy and programs that impact household incomes.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year delay in the availability of the most recent mean AGI data for Missouri, as it is dependent on the processing of individual tax returns.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Missouri (MEANAGIMO29A052NCEN), retrieved from FRED.