90% Confidence Interval Lower Bound of Estimate of Median Household Income for Arkansas
MHICILBAR05000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,628.00
Year-over-Year Change
50.99%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic indicator represents the lower bound of the 90% confidence interval for the estimated median household income in Arkansas. It provides insight into the distribution and uncertainty around household income levels in the state.
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 for median household income in Arkansas is a statistical measure that helps quantify the range of possible values for this important economic indicator. It is used by policymakers and analysts to understand income trends and inequality within the state.
Methodology
This data is calculated from U.S. Census Bureau survey responses.
Historical Context
The median household income trend and its confidence intervals are closely tracked for their implications on consumer spending, tax revenues, and social program needs.
Key Facts
- The 90% confidence interval represents a range with a 90% probability of containing the true median value.
- Arkansas had a median household income of $48,952 in 2021.
- Household income data is collected through the U.S. Census Bureau's American Community Survey.
FAQs
Q: What does this economic trend measure?
A: This indicator represents the lower bound of the 90% confidence interval for the estimated median household income in Arkansas. It provides insight into the distribution and uncertainty around household income levels in the state.
Q: Why is this trend relevant for users or analysts?
A: The median household income trend and its confidence intervals are closely tracked for their implications on consumer spending, tax revenues, and social program needs.
Q: How is this data collected or calculated?
A: This data is calculated from U.S. Census Bureau survey responses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the 90% confidence interval for median household income to understand income trends and inequality within the state.
Q: Are there update delays or limitations?
A: The household income data is subject to the update schedule and sampling limitations of the U.S. Census Bureau's American Community Survey.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Arkansas (MHICILBAR05000A052NCEN), retrieved from FRED.