Real Per Capita Personal Income: Metropolitan Portion for Ohio
OHMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,049.00
Year-over-Year Change
22.69%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Ohio measures the average inflation-adjusted personal income for residents in Ohio's metropolitan areas. This economic indicator is closely watched by policymakers to assess consumer purchasing power and regional economic conditions.
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
This series represents the average real personal income per capita for Ohioans living in metropolitan statistical areas within the state. It is a key gauge of economic well-being and purchasing power, and is used to inform policy decisions related to taxation, government programs, and economic development initiatives.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for Ohio's metropolitan regions.
Historical Context
Trends in this metric are analyzed by the Federal Reserve, state and local governments, and private sector economists to understand regional economic performance and consumer demand.
Key Facts
- Ohio's metro areas account for over 80% of the state's total personal income.
- Real per capita personal income in Ohio's metro regions has grown by 20% since 2010.
- The Cleveland metro area has the highest real per capita personal income in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average inflation-adjusted personal income per person for residents of Ohio's metropolitan statistical areas.
Q: Why is this trend relevant for users or analysts?
A: Trends in real per capita personal income are closely monitored by policymakers and economists to assess consumer purchasing power and regional economic performance within Ohio.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for Ohio's metropolitan regions.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to inform decisions related to taxation, government programs, and economic development initiatives in Ohio's metropolitan areas.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Bureau of Economic Analysis, with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Ohio (OHMPRPIPC), retrieved from FRED.