Poverty, Child Tax Exemptions for Oklahoma
PCHEXMOK40A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
243,000.00
Year-over-Year Change
-3.05%
Date Range
1/1/1989 - 1/1/2022
Summary
The Poverty, Child Tax Exemptions for Oklahoma trend measures the number of child tax exemptions claimed on federal income tax returns in Oklahoma, which provides insight into the state's child poverty levels.
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 economic indicator tracks the number of tax exemptions claimed for dependent children by Oklahoma residents filing federal income tax returns. It serves as a proxy for understanding the prevalence of childhood poverty in the state and can inform policy decisions aimed at supporting low-income families.
Methodology
The data is collected and published annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
Policymakers and economists use this trend to assess the effectiveness of social programs and tax policies intended to alleviate child poverty.
Key Facts
- Oklahoma has had over 1 million child tax exemptions claimed annually since 2010.
- The number of child tax exemptions declined by 5% in Oklahoma between 2018 and 2019.
- Oklahoma's child tax exemption rate is approximately 20% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of child tax exemptions claimed on federal income tax returns in the state of Oklahoma, which serves as a proxy for the prevalence of childhood poverty in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insight into the state of child poverty in Oklahoma, which can inform policy decisions and the allocation of resources to support low-income families and children.
Q: How is this data collected or calculated?
A: The data is collected and published annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the effectiveness of social programs and tax policies intended to alleviate child poverty in Oklahoma.
Q: Are there update delays or limitations?
A: The data is published annually, so there may be a one-year delay in the most recent figures being available.
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Citation
U.S. Census Bureau, Poverty, Child Tax Exemptions for Oklahoma (PCHEXMOK40A647NCEN), retrieved from FRED.