Estimated Percent of People of All Ages in Poverty for Illinois
PPAAIL17000A156NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.60
Year-over-Year Change
-22.15%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the estimated percentage of people of all ages living in poverty in the state of Illinois. It provides crucial insights into the economic well-being and social challenges faced by Illinois residents.
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 Estimated Percent of People of All Ages in Poverty for Illinois is a key statistic used by policymakers, researchers, and social service providers to understand the prevalence and distribution of poverty within the state. It helps inform decisions and programs aimed at reducing economic hardship and promoting inclusive growth.
Methodology
The data is collected and calculated by the U.S. Census Bureau based on household surveys and income thresholds.
Historical Context
This poverty metric is widely used to assess the effectiveness of government assistance programs and to identify areas in need of targeted interventions.
Key Facts
- Illinois' poverty rate was 12.6% in 2021.
- Poverty disproportionately affects children and the elderly in Illinois.
- The state's poverty rate is lower than the national average of 13.4%.
FAQs
Q: What does this economic trend measure?
A: The Estimated Percent of People of All Ages in Poverty for Illinois measures the proportion of the state's population living below the federal poverty line.
Q: Why is this trend relevant for users or analysts?
A: This poverty metric is crucial for understanding the economic well-being of Illinois residents and informing policies and programs aimed at reducing hardship and promoting inclusive growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau based on household surveys and income thresholds.
Q: How is this trend used in economic policy?
A: The poverty rate is widely used by policymakers, economists, and social service providers to assess the effectiveness of government assistance programs and identify areas in need of targeted interventions.
Q: Are there update delays or limitations?
A: The poverty estimates are typically released with a 1-2 year time lag, and may not fully capture sudden economic changes or regional variations within Illinois.
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Citation
U.S. Census Bureau, Estimated Percent of People of All Ages in Poverty for Illinois (PPAAIL17000A156NCEN), retrieved from FRED.