Estimate of Related Children Age 5-17 in Families in Poverty for Minnesota
PE5T17MN27000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93,142.00
Year-over-Year Change
-24.52%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the estimated number of related children aged 5-17 living in families below the poverty line in the state of Minnesota. This metric provides insight into child poverty levels and helps policymakers understand economic hardship 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 Estimate of Related Children Age 5-17 in Families in Poverty for Minnesota tracks the population of impoverished youth in the state. This data point is a key indicator of economic well-being and can inform policies aimed at reducing child poverty and improving family financial security.
Methodology
The data is collected through the U.S. Census Bureau's annual surveys and calculated based on federal poverty thresholds.
Historical Context
This trend is used by economists, policymakers, and social service providers to evaluate the state of economic distress and target resources for families and children in need.
Key Facts
- Minnesota's child poverty rate was 12% in 2021.
- The state has seen a decline in child poverty over the past decade.
- Poverty disproportionately impacts certain racial and ethnic groups in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the estimated number of related children aged 5-17 living in families below the federal poverty line in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The child poverty rate is a key indicator of economic hardship and well-being, helping policymakers and service providers target resources and support for families in need.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual surveys and calculated based on federal poverty thresholds.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and social service providers use this trend to evaluate economic distress and inform policies and programs aimed at reducing child poverty.
Q: Are there update delays or limitations?
A: The data is updated annually and may have a 1-year delay due to the Census survey process.
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Citation
U.S. Federal Reserve, Estimate of Related Children Age 5-17 in Families in Poverty for Minnesota (PE5T17MN27000A647NCEN), retrieved from FRED.