Mean Adjusted Gross Income for Utah
MEANAGIUT49A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
99,000.00
Year-over-Year Change
78.00%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Utah measures the average income reported on federal tax returns for residents of Utah. This statistic is closely watched by economists and policymakers to assess economic conditions and living standards 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 Utah represents the arithmetic mean of all adjusted gross incomes reported on individual tax returns for Utah residents. It provides a high-level indicator of income levels and distribution within the state's population.
Methodology
The data is collected annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
This metric is used by government, academic, and industry analysts to track trends in Utah's economic performance and compare it to national benchmarks.
Key Facts
- Utah's mean AGI was $66,305 in the latest year.
- Mean AGI in Utah is above the national average.
- Income levels have risen steadily in Utah over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Utah measures the arithmetic average of all adjusted gross incomes reported on individual tax returns by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a high-level indicator of income levels and economic conditions in Utah, which is useful for government, academic, and industry analysts tracking state-level economic performance.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess living standards, tax revenues, and other economic factors in Utah compared to national benchmarks.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months following the end of the tax year.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Utah (MEANAGIUT49A052NCEN), retrieved from FRED.