90% Confidence Interval Lower Bound of Estimate of Median Household Income for Arizona
MHICILBAZ04000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76,244.00
Year-over-Year Change
65.13%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the lower bound of the 90% confidence interval for the estimated median household income in Arizona. It provides a statistical representation of income distribution and economic wellbeing within 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 offers a conservative estimate of the typical income level in Arizona. It is used by policymakers and analysts to assess the economic status of households and inform policy decisions related to taxation, public assistance, and cost of living.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey and calculated using statistical techniques to derive the 90% confidence interval.
Historical Context
This economic indicator is relevant for understanding the financial security and purchasing power of Arizona residents, which informs policy decisions and market analysis.
Key Facts
- The 90% confidence interval provides a range for the true median household income.
- Lower bound represents the income level at which 90% of households are expected to have a higher income.
- Trend has been collected annually since 2005 by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimated median household income in Arizona. It provides a statistical representation of the income distribution within the state.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval lower bound for median household income is used by policymakers and analysts to assess the economic status of households and inform policy decisions related to taxation, public assistance, and cost of living.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey and calculated using statistical techniques to derive the 90% confidence interval.
Q: How is this trend used in economic policy?
A: This economic indicator is relevant for understanding the financial security and purchasing power of Arizona residents, which informs policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The trend has been collected annually since 2005 by the U.S. Census Bureau, with some potential for minor delays in data availability.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Arizona (MHICILBAZ04000A052NCEN), retrieved from FRED.