Median Personal Income in the United States
This dataset tracks median personal income in the united states over time.
Latest Value
42220.00
Year-over-Year Change
58.78%
Date Range
1/1/1974 - 1/1/2023
Summary
Median personal income tracks the midpoint of individual earnings across the United States. This metric provides crucial insight into typical economic well-being and income distribution.
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 personal income represents the exact middle point of individual earnings, dividing the population into two equal groups. It offers a more representative view of typical income than average measures.
Methodology
Data collected through annual surveys by the U.S. Census Bureau using comprehensive population sampling.
Historical Context
Used by policymakers to assess economic health and design targeted income support programs.
Key Facts
- Reflects actual middle-point of individual earnings
- Excludes household and family aggregate income
- Critical indicator of economic opportunity
FAQs
Q: How is median personal income different from average income?
A: Median income represents the middle value, not skewed by extreme high or low earners. It provides a more accurate representation of typical earnings.
Q: Why is median personal income important?
A: It helps understand economic conditions and standard of living for typical workers across different demographics and regions.
Q: How often is this data updated?
A: Typically updated annually by the U.S. Census Bureau with the most recent available data.
Q: Does median personal income vary by region?
A: Yes, median income can significantly differ across states and metropolitan areas due to local economic conditions.
Q: What factors influence median personal income?
A: Education, industry, local job market, economic cycles, and demographic shifts all impact median personal income.
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Citation
U.S. Federal Reserve, Median Personal Income in the United States (MEPAINUSA646N), retrieved from FRED.