Median Adjusted Gross Income for Maine
This dataset tracks median adjusted gross income for maine over time.
Latest Value
50500.00
Year-over-Year Change
47.02%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Maine measures the midpoint of taxable income for residents of the state. This key economic indicator provides insights into the financial well-being and spending power of Maine's population.
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 Maine represents the middle value of all reported adjusted gross incomes for tax filers in the state. It is used by economists and policymakers to analyze trends in personal income and the overall economic climate in Maine.
Methodology
The data is collected annually by the U.S. Internal Revenue Service (IRS) from individual tax returns.
Historical Context
Trends in median income are closely watched by government agencies and market analysts to inform economic policy and business decisions.
Key Facts
- Maine's median adjusted gross income was $52,302 in the latest year.
- Incomes in Maine are slightly below the national median.
- Median income has grown by 12% in Maine over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Maine measures the midpoint of taxable income for residents of the state. It provides insights into the overall financial well-being of Maine's population.
Q: Why is this trend relevant for users or analysts?
A: Trends in median income are closely watched by economists, policymakers, and businesses to understand the broader economic climate and spending power of Maine's residents.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Internal Revenue Service (IRS) from individual tax returns filed by Maine residents.
Q: How is this trend used in economic policy?
A: Median income data is used by government agencies and market analysts to inform economic policy decisions and business strategies in Maine.
Q: Are there update delays or limitations?
A: The Median Adjusted Gross Income for Maine is reported annually with a slight delay, as the IRS compiles tax return data.
Related News
US 10-year Treasury yield rise signals caution for investors
How the 10-Year Treasury Yield Surge Impacts Investors and the Fixed-Income Market The 10-year Treasury yield has surged past the 4% mark, capturing the attention of investors and markets alike. This rise is not just a random development; it signals broader shifts in the economic landscape, influencing everything from bond markets to investor strategies. When the 10-year Treasury yield shifts, it sends a ripple effect through financial ecosystems, underscoring its role as a critical economic in
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
U.S. Trade Deficit Decreases As Businesses Anticipate Tariff Hikes
U.S. Trade Deficit Reaches Two-Year Low Amid Anticipated Tariff Hikes The recent announcement that the U.S. trade deficit has reached a two-year low signals significant developments for the national economy. This change may, in part, be influenced by the anticipation of tariff hikes, which are affecting trade patterns. As this event unfolds, it has implications for the U.S. GDP, underscoring the importance of reducing the trade deficit. Trade tensions have long shaped the global economic landsc
U.S. Treasury Yields Increase Amid Strong Economic Growth and Inflation Concerns
Treasury Yields Surge Amid Economic Growth and Inflation Concerns Treasury yields are surging as investors closely monitor the evolving U.S. economic landscape. Recent data 10-year Treasury yield. With economic growth on one side and inflation data on the other, it's essential to unpack these complex dynamics. By analyzing these factors, we gain insights into the Federal Reserve's role in shaping monetary policy and the consequential market implications. The Federal Reserve's policies, market v
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Maine (MEDAGIME23A052NCEN), retrieved from FRED.