Estimate of People of All Ages in Poverty in Minnesota
PEAAMN27000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
519,464.00
Year-over-Year Change
-15.83%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the estimated number of people of all ages living in poverty in the state of Minnesota. It provides critical insights into the economic well-being and social challenges facing 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
The Estimate of People of All Ages in Poverty in Minnesota tracks the total number of individuals, regardless of age, who are living below the poverty line in the state. This metric is widely used by policymakers, researchers, and social service providers to understand the scope and distribution of poverty within Minnesota.
Methodology
The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Historical Context
This trend informs decisions around social programs, poverty alleviation initiatives, and economic development strategies in Minnesota.
Key Facts
- The poverty rate in Minnesota was 9.7% in 2021.
- Poverty disproportionately affects children and the elderly in Minnesota.
- Minnesota's poverty rate is lower than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the estimated number of people of all ages living in poverty in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides critical insights into the economic well-being and social challenges facing Minnesota's population, informing policy decisions and poverty alleviation efforts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual Current Population Survey.
Q: How is this trend used in economic policy?
A: This trend informs decisions around social programs, poverty alleviation initiatives, and economic development strategies in Minnesota.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some limitations in capturing the full scope of poverty due to survey methodologies.
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Citation
U.S. Federal Reserve, Estimate of People of All Ages in Poverty in Minnesota (PEAAMN27000A647NCEN), retrieved from FRED.