90% Confidence Interval Upper Bound of Estimate of Median Household Income for Massachusetts
This dataset tracks 90% confidence interval upper bound of estimate of median household income for massachusetts over time.
Latest Value
101051.00
Year-over-Year Change
57.97%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the upper bound of the 90% confidence interval for the estimate of median household income in Massachusetts. It provides insights into the range of incomes within the state and can inform policymakers and analysts on economic well-being and inequality.
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 Upper Bound of Estimate of Median Household Income for Massachusetts represents the upper limit of the statistical range in which the true median household income in the state is likely to fall, with 90% confidence. This metric is used to analyze the distribution of incomes and assess economic conditions within Massachusetts.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
This trend is relevant for policymakers, economists, and market analysts seeking to understand the economic landscape and household financial well-being in Massachusetts.
Key Facts
- The upper bound represents the highest income level within the 90% confidence interval.
- This metric provides insights into income inequality and the range of household incomes in Massachusetts.
- The data is updated annually by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This trend measures the upper bound of the 90% confidence interval for the estimate of median household income in Massachusetts. It represents the highest income level within the statistical range in which the true median household income is likely to fall.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the distribution of household incomes in Massachusetts, which is important for understanding economic well-being, inequality, and the financial landscape within the state. It can inform policymakers and analysts about the range of incomes and economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses from households in Massachusetts.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess the economic conditions and financial well-being of households in Massachusetts. It can inform policies and programs aimed at addressing income inequality and supporting household financial security.
Q: Are there update delays or limitations?
A: The data is updated annually by the U.S. Census Bureau, so there may be a delay in the most recent information being available. Additionally, the confidence interval represents a statistical range, so the true median household income may fall outside of the reported upper bound.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Massachusetts (MHICIUBMA25000A052NCEN), retrieved from FRED.