90% Confidence Interval Lower Bound of Estimate of Median Household Income for Alabama
MHICILBAL01000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61,546.00
Year-over-Year Change
50.50%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Alabama. It provides a reliable statistical range for this key economic indicator.
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 90% confidence interval lower bound represents the lowest value in the reliable range for median household income in Alabama, as calculated from survey data. This statistic is useful for analyzing income distribution and trends within the state.
Methodology
The data is calculated from the U.S. Census Bureau's annual household income surveys.
Historical Context
This metric is tracked by economists and policymakers to monitor economic conditions and living standards in Alabama.
Key Facts
- The lower bound was $49,302 in 2021.
- This represents the lowest reliable estimate in the 90% range.
- Median household income is a key indicator of living standards.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Alabama. It provides a reliable statistical range for this key economic indicator.
Q: Why is this trend relevant for users or analysts?
A: This metric is tracked by economists and policymakers to monitor economic conditions and living standards within Alabama. The 90% confidence interval gives a reliable range for analyzing income distribution and trends in the state.
Q: How is this data collected or calculated?
A: The data is calculated from the U.S. Census Bureau's annual household income surveys.
Q: How is this trend used in economic policy?
A: This trend is used by economists and government analysts to assess economic conditions and living standards in Alabama, informing policy decisions related to income, poverty, and regional development.
Q: Are there update delays or limitations?
A: There may be delays of up to a year in the release of this data, as it is based on annual household income surveys conducted by the U.S. Census Bureau.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Alabama (MHICILBAL01000A052NCEN), retrieved from FRED.