Mean Adjusted Gross Income for Oklahoma
This dataset tracks mean adjusted gross income for oklahoma over time.
Latest Value
76500.00
Year-over-Year Change
44.74%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Oklahoma tracks the average taxable income reported by Oklahoma residents. This metric is a key indicator of economic well-being and purchasing 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 Oklahoma represents the average adjusted gross income (AGI) reported on individual income tax returns filed by Oklahoma residents. AGI is a measure of total taxable income and serves as an important barometer of economic conditions and living standards in the state.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on tax return filings.
Historical Context
Policymakers and analysts use this trend to assess the financial health and spending capacity of Oklahoma households.
Key Facts
- The mean AGI for Oklahoma was $58,700 in 2020.
- Oklahoma's mean AGI has grown by 12% over the past 5 years.
- The state's mean AGI is 8% lower than the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Oklahoma tracks the average taxable income reported by individual income tax filers in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall financial well-being and purchasing power of Oklahoma households, which is valuable information for policymakers, businesses, and economists.
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: Analysts and policymakers use this trend to assess the economic conditions and spending capacity of Oklahoma residents, which informs decisions around taxation, social programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is released on an annual basis, so there is typically a 1-year delay in availability. The metric may also be subject to revisions based on updated tax return filings.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Oklahoma (MEANAGIOK40A052NCEN), retrieved from FRED.