Median Personal Income in Northeast Census Region
MEPAINUSNEA646N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,530.00
Year-over-Year Change
64.43%
Date Range
1/1/1974 - 1/1/2023
Summary
The Median Personal Income in Northeast Census Region is a key economic indicator that tracks the midpoint of personal income levels for individuals residing in the Northeastern United States. This metric is closely watched by economists and policymakers to gauge regional economic well-being and consumer spending patterns.
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 in Northeast Census Region represents the middle value of personal income for all individuals in the Northeastern states, which include Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont. This statistic provides insight into the purchasing power and standard of living for a typical household in the region.
Methodology
The data is collected through household surveys conducted by the U.S. Census Bureau.
Historical Context
Median personal income trends are used to inform economic and social policies at the regional and national level.
Key Facts
- Median personal income in the Northeast was $67,841 in 2021.
- The Northeast region has historically had higher median personal incomes than the national average.
- Personal income levels can impact consumer spending, saving, and investment patterns in the region.
FAQs
Q: What does this economic trend measure?
A: The Median Personal Income in Northeast Census Region measures the midpoint of personal income levels for individuals residing in the Northeastern United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the purchasing power and standard of living for a typical household in the Northeast region, which is valuable information for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Median personal income trends are used to inform economic and social policies at the regional and national level, as they reflect the financial well-being and spending patterns of consumers in the Northeast.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Census Bureau, but there may be a slight delay in the most recent figures becoming available.
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Citation
U.S. Federal Reserve, Median Personal Income in Northeast Census Region (MEPAINUSNEA646N), retrieved from FRED.