Age 65 and Over, Poverty Tax Exemptions for Pennsylvania
This dataset tracks age 65 and over, poverty tax exemptions for pennsylvania over time.
Latest Value
358000.00
Year-over-Year Change
23.25%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend tracks the number of poverty tax exemptions claimed by Pennsylvanians aged 65 and over. It provides insight into the economic security of the state's senior population.
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 age 65 and over poverty tax exemption data represents the number of Pennsylvanians in this age group who claimed an exemption from state or local taxes due to low income. This metric helps quantify the financial hardship faced by senior citizens in the state.
Methodology
The data is collected annually through Pennsylvania's state tax administration.
Historical Context
Policymakers use this trend to understand the economic challenges confronting the state's aging population and inform programs and policies to support low-income seniors.
Key Facts
- The number of Pennsylvanians aged 65+ claiming poverty tax exemptions in 2021 was 149,000.
- Poverty tax exemptions help low-income seniors reduce their state and local tax burden.
- The share of Pennsylvanians aged 65+ living in poverty is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of Pennsylvanians aged 65 and over who claimed a tax exemption due to low income, providing insight into the financial security of the state's senior population.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for policymakers, economists, and advocates working to understand and address the economic challenges facing low-income seniors in Pennsylvania.
Q: How is this data collected or calculated?
A: The data is collected annually through Pennsylvania's state tax administration.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to inform programs and policies aimed at supporting the financial security of low-income seniors in Pennsylvania.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a delay of up to a year before the most recent figures are available.
Related News
U.S. Stock Futures Stagnant Despite Positive Jobless Claims and GDP
Why US Stock Futures Remain Stagnant Despite Positive Economic Indicators The current investment landscape is puzzling for many as US stock futures struggle to show a definite trend despite favorable economic signals. These signals, such as jobless claims and Q2 GDP figures, suggest a healthy economy. Given the roles of the stock market and the Federal Reserve's decisions on rate hikes, it is surprising to witness this stagnation. Inflation trends and the Fed's signals about future policies pla
U.S. Home Sales Decline In August Due To High Prices
August 2023 U.S. Home Sales Decline Amid Rising Mortgage Rates and High Prices In August 2023, U.S. home sales experienced a notable decline, highlighting a distressing trend in the housing market. Homeownership is more costly these days. High home prices and soaring 30 year mortgage rates, combined with limited housing inventory, pose significant challenges for potential buyers and cast a shadow on economic recovery efforts. Many potential homebuyers find themselves increasingly priced out of
U.S. jobless claims decline to lowest level since mid-July
U.S. Jobless Claims Drop: A Positive Sign for Economic Growth The U.S. economy is signaling a positive turn as the initial jobless claims have dropped to their lowest level since mid-July, suggesting a more resilient labor market. This decline in jobless claims is not just a number; it reflects crucial dynamics in the U.S. economy and employment landscape. As people file fewer claims for unemployment benefits, it suggests a strengthening employment market and a recovering economy. Also, the cur
U.S. Trade Deficit Decreases As Businesses Anticipate Tariff Hikes
U.S. Trade Deficit Reaches Two-Year Low Amid Anticipated Tariff Hikes The recent announcement that the U.S. trade deficit has reached a two-year low signals significant developments for the national economy. This change may, in part, be influenced by the anticipation of tariff hikes, which are affecting trade patterns. As this event unfolds, it has implications for the U.S. GDP, underscoring the importance of reducing the trade deficit. Trade tensions have long shaped the global economic landsc
U.S. Treasury Yields Increase Amid Strong Economic Growth and Inflation Concerns
Treasury Yields Surge Amid Economic Growth and Inflation Concerns Treasury yields are surging as investors closely monitor the evolving U.S. economic landscape. Recent data 10-year Treasury yield. With economic growth on one side and inflation data on the other, it's essential to unpack these complex dynamics. By analyzing these factors, we gain insights into the Federal Reserve's role in shaping monetary policy and the consequential market implications. The Federal Reserve's policies, market v
U.S. Stock Indices Rebound After Tech Stocks' Recent Decline
US Stock Indices Rebound: Understanding the Market Recovery The recent surge in the US stock market marks a significant upturn, with key indices such as the Nasdaq and S&P 500 leading this recovery. The primary metric underpinning these shifts is the civilian employment-to-population ratio, reflecting positive economic momentum. This boost in indices can be linked to a complex interplay of factors, including recent economic data, renewed market optimism, and evolving investor behavior, casting
Related Trends
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
CPIAUCNS
Capacity Utilization: Total Index
TCU
Commercial and Industrial Loans, All Commercial Banks
TOTCI
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood A
RLMSHFBHOLCNA
Home Ownership Rate in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHHORHOLCNC
Share of Foreign Born in Home Owners Loan Corporation (HOLC) Neighborhood C
RLMSHFBHOLCNC
Citation
U.S. Federal Reserve, Age 65 and Over, Poverty Tax Exemptions for Pennsylvania (PAGEXMPA42A647NCEN), retrieved from FRED.