Poverty Tax Exemptions Under Age 65 for Wyoming
PLT65EXMWY56A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,000.00
Year-over-Year Change
-15.24%
Date Range
1/1/1989 - 1/1/2022
Summary
The 'Poverty Tax Exemptions Under Age 65 for Wyoming' trend tracks the number of tax exemptions claimed by individuals under 65 years old who are below the poverty line in Wyoming. This metric provides insight into the economic well-being of younger low-income residents 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
This economic indicator represents the total number of personal income tax exemptions claimed by individuals under 65 years old who have incomes below the federal poverty threshold in Wyoming. It is used by policymakers and economists to assess the prevalence of poverty and need for social services among the working-age population in the state.
Methodology
The data is collected through individual income tax filings and aggregated by the U.S. Census Bureau.
Historical Context
Trends in poverty tax exemptions can inform policy decisions related to social welfare programs, tax credits, and economic development initiatives in Wyoming.
Key Facts
- Poverty tax exemptions in Wyoming peaked at 63,700 in 2010.
- The number of exemptions has declined by 24% since 2010.
- Wyoming has a lower poverty rate than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of personal income tax exemptions claimed by individuals under 65 years old who have incomes below the federal poverty line in Wyoming.
Q: Why is this trend relevant for users or analysts?
A: Trends in poverty tax exemptions provide insight into the prevalence of working-age poverty in Wyoming, which can inform social welfare policies and economic development initiatives in the state.
Q: How is this data collected or calculated?
A: The data is collected through individual income tax filings and aggregated by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the need for social services and evaluate the effectiveness of anti-poverty programs in Wyoming.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture all eligible individuals due to non-filing or other factors.
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Citation
U.S. Federal Reserve, Poverty Tax Exemptions Under Age 65 for Wyoming (PLT65EXMWY56A647NCEN), retrieved from FRED.