90% Confidence Interval Lower Bound of Estimate of Median Household Income for Louisiana
MHICILBLA22000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,163.00
Year-over-Year Change
38.44%
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 Louisiana. It provides valuable insights into the distribution and variability of household 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 Louisiana represents the lower limit of the range within which the true median household income in Louisiana is expected to fall with 90% confidence. This statistic is used by economists and policymakers to analyze income inequality and the overall economic well-being of Louisiana residents.
Methodology
The data is collected and calculated by the U.S. Census Bureau using survey sampling techniques.
Historical Context
This trend is relevant for understanding the economic conditions and income distribution in Louisiana, which can inform policy decisions and market analysis.
Key Facts
- The lower bound of the 90% confidence interval for Louisiana's median household income in 2022 was $52,000.
- This statistic represents the level below which only 5% of Louisiana households are expected to have incomes.
- The confidence interval provides a range that accounts for sampling variability in the income estimate.
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 Louisiana. It provides insights into the distribution and variability 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 Louisiana, which can inform policy decisions and market analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau using survey sampling techniques.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze income inequality and the overall economic well-being of Louisiana residents, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the survey sampling methodology and may have some delay in updates.
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Citation
U.S. Census Bureau, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Louisiana (MHICILBLA22000A052NCEN), retrieved from FRED.