90% Confidence Interval Lower Bound of Estimate of Median Household Income for Hawaii
MHICILBHI15000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,413.00
Year-over-Year Change
54.52%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic indicator provides the lower bound of the 90% confidence interval for the estimate of median household income in Hawaii. It offers insights into the distribution and variability of incomes 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 of Estimate of Median Household Income for Hawaii represents the lower end of the range in which the true median household income in Hawaii is likely to fall, with 90% confidence. This data point is used by economists and policymakers to understand income dynamics and inequality within the state.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
This metric is relevant for analyzing regional economic conditions and informing policy decisions related to income, taxation, and social welfare programs.
Key Facts
- The lower bound was $57,927 in 2021.
- This indicates a high degree of income variability in Hawaii.
- The metric is used to assess economic well-being and guide policy.
FAQs
Q: What does this economic trend measure?
A: This indicator provides the lower bound of the 90% confidence interval for the estimate of median household income in Hawaii. It reflects the variability in incomes across the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding income dynamics, inequality, and economic conditions within Hawaii. It informs policy decisions related to taxation, social welfare, and regional economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses from households in Hawaii.
Q: How is this trend used in economic policy?
A: This indicator is used by economists, policymakers, and market analysts to assess regional economic well-being and guide decisions on income-related policies and programs.
Q: Are there update delays or limitations?
A: The data is released annually with a lag, so there may be a delay in reflecting the most recent economic conditions in Hawaii.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Hawaii (MHICILBHI15000A052NCEN), retrieved from FRED.