90% Confidence Interval Upper Bound of Estimate of Median Household Income for New York
This dataset tracks 90% confidence interval upper bound of estimate of median household income for new york over time.
Latest Value
82549.00
Year-over-Year Change
48.63%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the upper bound of the 90% confidence interval for the estimate of median household income in New York. It provides insight into the distribution and uncertainty around this key economic indicator.
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 New York represents the upper limit of the range in which the true median household income is expected to fall with 90% confidence. This metric is useful for assessing the precision of income estimates and monitoring changes in household economic well-being.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
Policymakers and analysts use this trend to contextualize median income figures and understand the degree of statistical uncertainty.
Key Facts
- The upper bound has ranged from $70,000 to $85,000 over the past decade.
- The trend tends to be more volatile than the median income estimate itself.
- High values indicate greater uncertainty around the true median household income.
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 New York. It provides insight into the distribution and uncertainty around this key economic indicator.
Q: Why is this trend relevant for users or analysts?
A: The 90% Confidence Interval Upper Bound is useful for assessing the precision of income estimates and monitoring changes in household economic well-being. It helps contextualize median income figures and understand the degree of statistical uncertainty.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to understand the distribution and uncertainty around median household income, which is a key indicator of economic conditions and household financial well-being.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the underlying median household income estimate for New York.
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Citation
U.S. Census Bureau, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for New York (MHICIUBNY36000A052NCEN), retrieved from FRED.