Mean Adjusted Gross Income for Rhode Island
This dataset tracks mean adjusted gross income for rhode island over time.
Latest Value
90000.00
Year-over-Year Change
50.66%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Rhode Island measures the average adjusted gross income reported by individual taxpayers in the state. This economic indicator provides insights into the overall income levels and wealth distribution within Rhode Island.
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 Rhode Island is a key statistic that reflects the typical income levels of individuals and households in the state. It is commonly used by economists, policymakers, and researchers to analyze trends in personal wealth, consumer spending, and the state's economic performance.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax return filings.
Historical Context
This economic trend is closely monitored by state and federal officials to inform policy decisions and economic development strategies.
Key Facts
- Rhode Island's mean adjusted gross income was $69,827 in 2020.
- The state's mean AGI has grown by 25% over the past decade.
- Rhode Island ranks 25th among U.S. states in mean adjusted gross income.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Rhode Island measures the average income reported on individual tax returns filed by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the overall wealth and income levels of Rhode Island's population, which is useful for economic analysis, policy planning, and investment decisions.
Q: How is this data collected or calculated?
A: The data is based on individual tax return filings processed by the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: State and federal policymakers monitor changes in mean adjusted gross income to inform decisions around taxation, public spending, economic development initiatives, and other policies that impact personal wealth and household finances.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 year lag as the IRS processes tax returns, but it provides a comprehensive picture of income levels across the state.
Related News
U.S. Stocks Hit Records; Gold Surges, Bitcoin Declines
U.S. Stock Market Soars Amid Treasury Yield Concerns Despite ongoing global uncertainties, the U.S. stock market has defied expectations, setting unprecedented records this year. The surge of the stock indices reflects the market's buoyancy despite economic fluctuations. Major indicators like the Dow Jones, S&P 500, and Nasdaq have all reached new highs, signifying the resilience of equities in the current financial landscape. Meanwhile, gold prices have surged, reinforcing its status as a safe
US 10-year Treasury yield rise signals caution for investors
How the 10-Year Treasury Yield Surge Impacts Investors and the Fixed-Income Market The 10-year Treasury yield has surged past the 4% mark, capturing the attention of investors and markets alike. This rise is not just a random development; it signals broader shifts in the economic landscape, influencing everything from bond markets to investor strategies. When the 10-year Treasury yield shifts, it sends a ripple effect through financial ecosystems, underscoring its role as a critical economic in
U.S. mortgage rates decline aligns with housing price cuts
U.S. Real Estate: Mortgage Rates Plummet Mortgage rates in the U.S. have experienced a notable drop, marking some of the most significant cuts in recent years. This shift comes at a time when the housing market is adjusting with substantial price reductions, offering potential homebuyers opportunities. The interconnectedness of mortgage rates with the broader economic trends cannot be understated. Lower interest rates often mean cheaper loans, potentially sparking more activity in the real esta
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Rhode Island (MEANAGIRI44A052NCEN), retrieved from FRED.