Poverty Universe, Age 5-17 related for Illinois
PUA5T17RIL17000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,998,798.00
Year-over-Year Change
-10.43%
Date Range
1/1/1998 - 1/1/2023
Summary
This economic trend measures the poverty universe for people aged 5-17 in the state of Illinois. It provides crucial insights into the economic well-being of the state's youth 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 poverty universe represents the total number of individuals in a given geographic area and age group who fall below the poverty line. Tracking this metric over time helps policymakers and economists assess the social and economic challenges facing young Illinoisans.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is widely used to inform policy decisions and resource allocation aimed at reducing child poverty.
Key Facts
- The poverty universe for 5-17 year olds in Illinois was 1.4 million in 2021.
- Child poverty rates in Illinois have declined from 19.4% in 2010 to 16.8% in 2021.
- Reducing child poverty is a key policy priority for the state of Illinois.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals aged 5-17 in Illinois who fall below the poverty line, known as the 'poverty universe'.
Q: Why is this trend relevant for users or analysts?
A: Tracking the poverty universe for Illinois youth provides crucial insights into the economic well-being of this population, which is essential for informing social welfare policies and resource allocation.
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: This trend is widely used by policymakers and economists to assess the effectiveness of programs and policies aimed at reducing child poverty in Illinois.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may be subject to sampling and estimation uncertainties inherent in survey-based metrics.
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Citation
U.S. Federal Reserve, Poverty Universe, Age 5-17 related for Illinois (PUA5T17RIL17000A647NCEN), retrieved from FRED.