Poverty, Child Tax Exemptions for Connecticut
PCHEXMCT9A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120,000.00
Year-over-Year Change
3.09%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of child tax exemptions claimed by Connecticut residents, which provides insight into poverty and family demographics in the state.
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 child tax exemption data represents the total number of dependents claimed on individual income tax returns filed in Connecticut. This metric is widely used by economists and policymakers to analyze trends in family size, income levels, and the prevalence of child poverty.
Methodology
The data is collected annually by the U.S. Census Bureau through individual income tax filings.
Historical Context
Analyzing changes in child tax exemptions helps inform public policies related to child welfare, family support programs, and poverty alleviation.
Key Facts
- Connecticut has the 5th highest median household income in the U.S.
- Child poverty rate in Connecticut is 12.6%, below the national average.
- The number of child tax exemptions claimed has declined by 7.2% since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of child tax exemptions claimed by Connecticut residents on their individual income tax returns.
Q: Why is this trend relevant for users or analysts?
A: The child tax exemption data provides important insights into family demographics, poverty levels, and public assistance needs in Connecticut.
Q: How is this data collected or calculated?
A: The data is collected annually by the U.S. Census Bureau through individual income tax filings in Connecticut.
Q: How is this trend used in economic policy?
A: Analyzing changes in child tax exemptions helps inform public policies related to child welfare, family support programs, and poverty alleviation in Connecticut.
Q: Are there update delays or limitations?
A: The data is published annually with a 1-year delay, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Connecticut (PCHEXMCT9A647NCEN), retrieved from FRED.