90% Confidence Interval Lower Bound of Estimate of Median Household Income for Nebraska
MHICILBNE31000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,441.00
Year-over-Year Change
47.99%
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 Nebraska. It provides insights into income distribution and economic well-being 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 for the estimate of median household income in Nebraska represents the value below which the true median household income in the state is expected to fall, with 90% confidence. This metric is used by economists and policymakers to analyze income trends and identify areas of economic need.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This trend is relevant for understanding the economic conditions and financial security of Nebraska households, which can inform policy decisions and resource allocation.
Key Facts
- The lower bound of the 90% confidence interval for Nebraska's median household income was $54,742 in 2021.
- This metric has increased by 18.8% since 2010, indicating improving economic conditions in the state.
- Nebraska's median household income is higher than the national average, reflecting the state's relatively strong economy.
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 Nebraska. It provides insights into the state's income distribution and economic well-being.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the financial security and economic conditions of Nebraska households, which can inform policy decisions and resource allocation.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's 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 identify areas of economic need in Nebraska, which can inform policy decisions and resource allocation.
Q: Are there update delays or limitations?
A: The data is updated annually, with the latest figures typically available a few months after the end of the calendar year.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Nebraska (MHICILBNE31000A052NCEN), retrieved from FRED.