90% Confidence Interval Upper Bound of Estimate of Median Household Income for Maine
MHICIUBME23000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,055.00
Year-over-Year Change
59.98%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the upper bound of the 90% confidence interval for the estimated median household income in Maine. It provides a statistically robust range for evaluating changes in the state's typical household earnings over time.
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 Maine is a key metric used by economists and policymakers to analyze the income distribution and economic well-being of Maine residents. It represents the upper limit of the probable range where the true median household income is likely to fall.
Methodology
The data is collected and calculated by the U.S. Census Bureau as part of the American Community Survey.
Historical Context
This trend is valuable for assessing the economic health and purchasing power of Maine households in the context of regional and national comparisons.
Key Facts
- The upper bound represents the highest likely value of the median household income in Maine.
- This metric helps track changes in the state's typical household earnings over time.
- The 90% confidence interval provides a statistically robust range for evaluating income trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures the upper bound of the 90% confidence interval for the estimated median household income in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval upper bound is a valuable metric for evaluating the economic well-being and purchasing power of Maine households in the context of regional and national comparisons.
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 American Community Survey.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the income distribution and economic conditions of Maine residents, informing decisions and policies related to the state's economic development and household financial security.
Q: Are there update delays or limitations?
A: The data is published annually with a delay, and the confidence interval reflects statistical sampling uncertainty inherent in survey-based estimates.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Maine (MHICIUBME23000A052NCEN), retrieved from FRED.