90% Confidence Interval Lower Bound of Estimate of Median Household Income for Idaho
This dataset tracks 90% confidence interval lower bound of estimate of median household income for idaho over time.
Latest Value
73766.00
Year-over-Year Change
74.75%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Idaho. It provides insights into the distribution and uncertainty of household income at the state level.
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 the estimate of median household income for Idaho represents the lower end of the range within which the true median household income for the state is likely to fall, with 90% confidence. This metric is used by economists and policymakers to analyze income trends and assess the economic well-being of Idaho households.
Methodology
The data is collected and calculated by the U.S. Census Bureau as part of the annual American Community Survey.
Historical Context
This trend is relevant for understanding the economic conditions and income distribution in Idaho, which can inform policy decisions and market analysis.
Key Facts
- The 90% confidence interval lower bound provides a conservative estimate of median household income in Idaho.
- This metric helps identify the minimum level of income that most Idaho households are likely to have.
- Understanding the lower bound of household incomes is crucial for evaluating economic inequality and designing targeted policies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in the state of Idaho. It provides insights into the distribution and uncertainty of household incomes in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the economic conditions and income distribution in Idaho, which can inform policy decisions and market analysis. It helps identify the minimum level of income that most Idaho households are likely to have.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau as part of the annual American Community Survey.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze income trends and assess the economic well-being of Idaho households, which can inform policy decisions and market analysis.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a delay in the most recent information being available. Additionally, the confidence interval represents an estimate, so there may be some uncertainty in the precise value.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Idaho (MHICILBID16000A052NCEN), retrieved from FRED.