Median Adjusted Gross Income for Alabama
MEDAGIAL1A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
44,000.00
Year-over-Year Change
46.06%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Alabama measures the midpoint income level for individual tax filers in the state. This economic indicator provides insight into the financial well-being and purchasing power of Alabama residents.
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 Median Adjusted Gross Income for Alabama is a yearly statistic compiled by the U.S. Census Bureau. It represents the middle income value for all tax returns filed from the state, offering a representative measure of typical household finances and the overall economic condition of Alabama.
Methodology
The data is calculated from individual income tax returns submitted to the Internal Revenue Service.
Historical Context
Policymakers and economists use this metric to assess trends in Alabama's standard of living and make informed decisions about economic policies.
Key Facts
- Alabama's median AGI was $49,861 in 2019.
- Incomes vary significantly by county within the state.
- The national median AGI was $54,979 in 2019.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Alabama measures the midpoint income level for individual tax filers in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial well-being and purchasing power of Alabama residents, which is useful for policymakers and economists analyzing the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated from individual income tax returns submitted to the Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess trends in Alabama's standard of living and make informed decisions about economic policies.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, and may not fully capture all tax returns filed for a given year.
Related Trends
Individual Income Tax Filing: Returns of Married Persons Filing Separately
RTSMPFS
State Tax Collections: T23 Hunting and Fishing License for Florida
QTAXT23QTAXCAT3FLNO
Total Tax Exemptions for Montana
TOTEXMMT30A647NCEN
State Tax Collections: T09 General Sales and Gross Receipts Taxes for Illinois
QTAXT09QTAXCAT3ILNO
Poverty, Child Tax Exemptions for Nebraska
PCHEXMNE31A647NCEN
State Tax Collections: T16 Tobacco Products Sales Tax for Maryland
QTAXT16QTAXCAT3MDNO
Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Alabama (MEDAGIAL1A052NCEN), retrieved from FRED.