Per Capita Personal Income in Pennsylvania
PAPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,148.00
Year-over-Year Change
55.90%
Date Range
1/1/1929 - 1/1/2024
Summary
The per capita personal income (PCPI) trend measures the average income earned per person in Pennsylvania. It is a key economic indicator used to assess the overall standard of living and economic well-being of the state's 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
PCPI represents the total personal income of residents in Pennsylvania divided by the state's total population. It is a comprehensive metric that captures income from various sources, including wages, salaries, investment returns, and government benefits.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a combination of survey data and administrative records.
Historical Context
PCPI is closely monitored by policymakers, analysts, and businesses to understand Pennsylvania's economic performance and make informed decisions.
Key Facts
- Pennsylvania's PCPI was $62,352 in 2021.
- PCPI in Pennsylvania has grown by 3.2% annually over the past 5 years.
- Pennsylvania's PCPI is 98% of the national average.
FAQs
Q: What does this economic trend measure?
A: The per capita personal income (PCPI) trend measures the average income earned per person in Pennsylvania, capturing income from various sources like wages, investments, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: PCPI is a key indicator of the overall economic well-being and standard of living in Pennsylvania, and is closely monitored by policymakers, businesses, and analysts to understand the state's economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a combination of survey data and administrative records.
Q: How is this trend used in economic policy?
A: PCPI is used by policymakers, economists, and businesses to assess Pennsylvania's economic performance and make informed decisions about policies, investments, and resource allocation.
Q: Are there update delays or limitations?
A: The PCPI data is published annually by the U.S. Bureau of Economic Analysis, with a typical 1-year delay in the most recent data.
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Citation
U.S. Federal Reserve, Per Capita Personal Income in Pennsylvania (PAPCPI), retrieved from FRED.