Estimate of People of All Ages in Poverty in Virginia
PEAAVA51000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
867,052.00
Year-over-Year Change
-5.01%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the estimated number of people living in poverty in the state of Virginia. It is an important indicator for understanding economic well-being and informing policy decisions.
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 Virginia tracks the total number of individuals in the state living below the federally defined poverty line. This data point is widely used by economists, policymakers, and social service providers to assess the prevalence of poverty and target resources accordingly.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This poverty estimate helps inform public and private programs aimed at reducing economic hardship in Virginia.
Key Facts
- Virginia's poverty rate was 10.3% in 2021.
- The poverty threshold for a family of four was $26,500 in 2021.
- Poverty disproportionately affects children and the elderly in Virginia.
FAQs
Q: What does this economic trend measure?
A: The Estimate of People of All Ages in Poverty in Virginia tracks the total number of individuals in the state living below the federally defined poverty line.
Q: Why is this trend relevant for users or analysts?
A: This poverty estimate is an important indicator of economic well-being and helps inform public and private programs aimed at reducing hardship in Virginia.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: The poverty estimate helps policymakers, economists, and social service providers assess the prevalence of poverty and target resources accordingly in Virginia.
Q: Are there update delays or limitations?
A: The poverty estimate is updated annually with a lag of about one year.
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Citation
U.S. Federal Reserve, Estimate of People of All Ages in Poverty in Virginia (PEAAVA51000A647NCEN), retrieved from FRED.