Median Adjusted Gross Income for Connecticut
MEDAGICT9A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61,000.00
Year-over-Year Change
32.36%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income (AGI) for Connecticut measures the middle value of reported individual incomes in the state. This metric is a key indicator of economic well-being and standard of living for Connecticut 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 AGI for Connecticut represents the midpoint of all reported federal adjusted gross incomes for individual tax filers in the state. Economists and policymakers use this statistic to assess income distribution, gauge economic trends, and inform tax and social policies.
Methodology
The data is collected annually by the U.S. Internal Revenue Service (IRS) from individual income tax returns.
Historical Context
Changes in the Median AGI for Connecticut can signal broader shifts in the state's economy and have implications for consumer spending, tax revenue, and socioeconomic equality.
Key Facts
- Connecticut has the 4th highest median AGI among U.S. states.
- The Median AGI for Connecticut has grown by 27% over the past decade.
- The ratio of the top 1% to median AGI in Connecticut is 8.9.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income (AGI) for Connecticut measures the middle value of reported individual incomes in the state.
Q: Why is this trend relevant for users or analysts?
A: The Median AGI for Connecticut is a key indicator of economic well-being and standard of living for residents of the state, with implications for consumer spending, tax revenue, and socioeconomic equality.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Internal Revenue Service (IRS) from individual income tax returns.
Q: How is this trend used in economic policy?
A: Changes in the Median AGI for Connecticut can inform tax and social policies aimed at addressing income distribution and economic inequality in the state.
Q: Are there update delays or limitations?
A: The Median AGI for Connecticut data is released annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Connecticut (MEDAGICT9A052NCEN), retrieved from FRED.