90% Confidence Interval Lower Bound of Estimate of Median Household Income for Massachusetts
MHICILBMA25000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
98,449.00
Year-over-Year Change
58.06%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend represents the lower bound of the 90% confidence interval for the estimated median household income in Massachusetts. It provides insight into the distribution and uncertainty around this key measure of economic well-being.
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 for median household income in Massachusetts offers a statistical perspective on the range in which the true median value is likely to fall. This helps policymakers and analysts assess economic conditions and trends with appropriate consideration of data limitations.
Methodology
This statistic is calculated from survey data by the U.S. Census Bureau.
Historical Context
The median household income and its confidence intervals are widely used to evaluate the economic health and living standards of a region.
Key Facts
- Massachusetts median household income was $81,215 in 2021.
- The 90% confidence interval lower bound was $80,353 in 2021.
- Median household income is a key indicator of economic well-being.
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 Massachusetts. It provides a statistical range for this important economic indicator.
Q: Why is this trend relevant for users or analysts?
A: The median household income and its confidence intervals are widely used to evaluate the economic health and living standards of a region. This statistic helps policymakers and analysts assess economic conditions with appropriate consideration of data limitations.
Q: How is this data collected or calculated?
A: This statistic is calculated from survey data by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: The median household income and its confidence intervals are used by policymakers, economists, and institutions to assess the economic well-being and living standards of a region.
Q: Are there update delays or limitations?
A: The data is subject to survey sampling and estimation uncertainties, and may have some publication delays.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Massachusetts (MHICILBMA25000A052NCEN), retrieved from FRED.