90% Confidence Interval Lower Bound of Estimate of Median Household Income for Iowa
This dataset tracks 90% confidence interval lower bound of estimate of median household income for iowa over time.
Latest Value
70557.00
Year-over-Year Change
44.34%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic indicator represents the lower bound of the 90% confidence interval for the estimate of median household income in Iowa. It provides insights into the income distribution and economic well-being of Iowa households.
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 Iowa is a statistical measure that reflects the lower range of the 90% confidence interval around the estimated median household income for the state. It offers a more nuanced view of income distribution compared to the median alone.
Methodology
The data is calculated based on survey responses and statistical modeling by the U.S. Census Bureau.
Historical Context
This trend is used by policymakers, economists, and researchers to analyze income inequality and the economic conditions of Iowa households.
Key Facts
- The 90% confidence interval reflects a range within which the true median household income is likely to fall.
- Lower bound values indicate a larger share of Iowa households have incomes below the median.
- Tracking this trend over time can reveal changes in the income distribution within the state.
FAQs
Q: What does this economic trend measure?
A: This trend represents the lower bound of the 90% confidence interval for the estimated median household income in the state of Iowa. It provides insights into the income distribution and economic well-being of Iowa households.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval lower bound is relevant for understanding income inequality and the economic conditions of Iowa households. It offers a more nuanced view of the income distribution compared to the median alone.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses and statistical modeling.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and researchers to analyze income inequality and the economic conditions of Iowa households, informing policy decisions and economic assessments.
Q: Are there update delays or limitations?
A: There may be lags in data availability and potential limitations in survey coverage or statistical modeling, which should be considered when interpreting the trend.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Iowa (MHICILBIA19000A052NCEN), retrieved from FRED.