Per Capita Personal Income in North Carolina
NCPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64,855.00
Year-over-Year Change
66.83%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in North Carolina measures the average income per person in the state. It is a key economic indicator used to gauge the overall standard of living and purchasing power of North Carolina residents.
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
Per capita personal income is a comprehensive measure of income that includes wages, salaries, supplements, property income, and government transfer payments. It provides insights into the economic well-being and consumption patterns of the state's population.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey and administrative records.
Historical Context
This trend is closely monitored by policymakers, businesses, and economists to assess the state's economic performance and guide policy decisions.
Key Facts
- North Carolina's per capita personal income was $53,764 in 2021.
- Income levels vary significantly across North Carolina's metropolitan and rural areas.
- The state's per capita personal income has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in North Carolina measures the average income per person in the state, including wages, salaries, supplements, property income, and government transfer payments.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the overall standard of living and purchasing power of North Carolina residents, which is crucial for assessing the state's economic performance and guiding policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey and administrative records.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, businesses, and economists to assess the state's economic performance and guide policy decisions related to economic development, taxation, and social welfare programs.
Q: Are there update delays or limitations?
A: The per capita personal income data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Income in North Carolina (NCPCPI), retrieved from FRED.