Estimated Percent of People of All Ages in Poverty for Virginia
PPAAVA51000A156NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.20
Year-over-Year Change
-12.07%
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 Virginia. Understanding poverty levels is crucial for policymakers to develop effective programs and allocate resources.
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 Virginia represents the share of the total population in the state living below the federal poverty line. This key metric helps economists and government officials assess the well-being of Virginia residents and track progress in reducing poverty over time.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Poverty trends are closely monitored by policymakers to inform decisions on social welfare programs, economic development initiatives, and other interventions.
Key Facts
- Virginia's poverty rate was 10.4% in 2020.
- Poverty disproportionately affects certain demographic groups in Virginia.
- Reducing poverty is a key policy goal for state and local governments.
FAQs
Q: What does this economic trend measure?
A: This trend measures the estimated percentage of people of all ages living in poverty in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: Understanding poverty levels is crucial for policymakers to develop effective programs and allocate resources to support Virginia's most vulnerable residents.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: Poverty trends are closely monitored by policymakers to inform decisions on social welfare programs, economic development initiatives, and other interventions.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and potential limitations of the American Community Survey.
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Citation
U.S. Federal Reserve, Estimated Percent of People of All Ages in Poverty for Virginia (PPAAVA51000A156NCEN), retrieved from FRED.