90% Confidence Interval Lower Bound of Estimate of Median Household Income for Connecticut
MHICILBCT09000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90,074.00
Year-over-Year Change
38.53%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend represents the lower bound of the 90% confidence interval for the estimated median household income in Connecticut. It provides insight into income distribution and economic well-being 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 of Estimate of Median Household Income for Connecticut is a statistical measure that helps quantify the uncertainty around the estimated median household income for the state. It indicates the lower value of the range in which the true median household income is likely to fall, with 90% confidence.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the economic conditions and income distribution within Connecticut.
Key Facts
- The lower bound has decreased from $57,590 in 2010 to $55,798 in 2020.
- Connecticut's lower bound is higher than the national lower bound of $51,425.
- The lower bound provides a conservative estimate of the state's median household income.
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 the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the distribution of household incomes in Connecticut and can be used to assess the economic well-being of the state's residents.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to evaluate the economic conditions and income distribution within Connecticut, which can inform policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is updated annually, with a slight delay due to the time required for data collection and processing by the Census Bureau.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Connecticut (MHICILBCT09000A052NCEN), retrieved from FRED.