Mean Adjusted Gross Income for Texas
This dataset tracks mean adjusted gross income for texas over time.
Latest Value
96000.00
Year-over-Year Change
60.52%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Texas measures the average annual income reported on tax returns filed by Texas residents. This metric provides insight into the overall economic well-being and purchasing power of Texans.
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 Texas represents the average amount of income reported on individual tax returns in the state of Texas. This figure is used by economists and policymakers to analyze trends in personal income, consumption, and standards of living within the state.
Methodology
The data is calculated by the U.S. Census Bureau based on individual tax return filings.
Historical Context
This economic indicator is relevant for assessing the financial health and economic conditions in Texas, which has implications for consumer spending, tax revenue, and policy decisions.
Key Facts
- Texas has the second-largest economy in the U.S.
- The mean AGI in Texas has increased by 25% over the past decade.
- High-income Texans contribute a significant share of the state's tax revenue.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Texas represents the average amount of 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 insight into the overall economic well-being and purchasing power of Texans, which is relevant for assessing consumer spending, tax revenue, and policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to analyze trends in personal income, consumption, and standards of living within the state of Texas.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, as it is based on tax return information.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Texas (MEANAGITX48A052NCEN), retrieved from FRED.