Median Adjusted Gross Income for Louisiana
MEDAGILA22A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,500.00
Year-over-Year Change
32.56%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Louisiana measures the midpoint of income levels for individual taxpayers in the state, providing insight into the economic well-being of Louisiana 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
This data series from the U.S. Census Bureau tracks the median adjusted gross income (AGI) reported on federal income tax returns filed by Louisiana residents. The median AGI is a key indicator of overall income distribution and standard of living within the state.
Methodology
The data is collected from individual income tax returns filed with the Internal Revenue Service.
Historical Context
Policymakers and economists use this metric to assess trends in Louisiana's economic performance and household financial health.
Key Facts
- Louisiana's median AGI was $49,746 in 2020.
- Median AGI in Louisiana is below the national average.
- Income levels vary significantly by region within Louisiana.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Louisiana measures the midpoint income level for individual taxpayers in the state, providing insight into overall household financial well-being.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the economic condition and standard of living for Louisiana residents, which is relevant for policymakers, economists, and others analyzing state-level economic performance.
Q: How is this data collected or calculated?
A: The data is collected from individual income tax returns filed with the IRS.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess economic conditions and household financial health within Louisiana, which can inform decisions around taxation, public spending, and other state-level policies.
Q: Are there update delays or limitations?
A: There may be a delay of up to two years in the availability of the most recent data due to the time required for tax return processing and data compilation.
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Citation
U.S. Census Bureau, Median Adjusted Gross Income for Louisiana (MEDAGILA22A052NCEN), retrieved from FRED.