Median Adjusted Gross Income for Mississippi
This dataset tracks median adjusted gross income for mississippi over time.
Latest Value
38000.00
Year-over-Year Change
43.59%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Mississippi 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 Mississippi 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 (AGI) for Mississippi represents the middle income value for individual tax returns filed from the state. It is a key metric used by economists and policymakers to analyze income trends and distribution within the state's population.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
Trends in median AGI are closely watched by analysts to assess the broader economic health and standard of living in Mississippi.
Key Facts
- Mississippi's median AGI was $42,009 in 2020.
- Median AGI in Mississippi is consistently lower than the national average.
- Income inequality remains a persistent challenge in the state.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Mississippi measures the midpoint income level for individual tax filers in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in median AGI provide insight into the financial well-being and purchasing power of Mississippi residents, which is crucial for economic and policy analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Median AGI is closely watched by analysts and policymakers to assess the broader economic health and standard of living in Mississippi.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-2 year lag, so the most recent figures may not fully reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Mississippi (MEDAGIMS28A052NCEN), retrieved from FRED.