Mean Adjusted Gross Income for Nevada
This dataset tracks mean adjusted gross income for nevada over time.
Latest Value
97000.00
Year-over-Year Change
77.43%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Nevada measures the average level of taxable income reported by Nevada residents. This metric is a key indicator of economic well-being and consumer spending power 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 Nevada represents the average amount of total income, minus allowable deductions, reported on individual tax returns filed by Nevada residents. This data point provides insight into the overall earning and wealth distribution within the state.
Methodology
The data is collected and reported annually by the U.S. Internal Revenue Service based on individual tax filings.
Historical Context
This metric is closely watched by policymakers, economists, and market analysts to gauge Nevada's economic performance and household financial health.
Key Facts
- Nevada's mean adjusted gross income was $68,258 in the latest year.
- Incomes in Nevada have grown by 15% over the past decade.
- The state's mean income level is slightly above the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Nevada measures the average level of taxable income reported by residents in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall earning power and financial well-being of Nevada households, which is crucial for understanding consumer spending patterns and the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Internal Revenue Service based on individual tax filings.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor this metric to gauge Nevada's economic conditions and make informed decisions about fiscal, monetary, and regulatory policies.
Q: Are there update delays or limitations?
A: The data is reported with a one-year lag, so the most recent figure may not reflect the current economic situation. Additionally, the metric does not capture income inequality or distribution within the state.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Nevada (MEANAGINV32A052NCEN), retrieved from FRED.