Poverty Universe, All Ages for Minnesota
PUAAMN27000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,617,920.00
Year-over-Year Change
7.57%
Date Range
1/1/1998 - 1/1/2023
Summary
The 'Poverty Universe, All Ages for Minnesota' metric tracks the number of people of all ages living below the poverty line in the state of Minnesota. This data is crucial for policymakers and economists to understand economic well-being and identify areas for targeted social programs.
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 series measures the total number of individuals in Minnesota who are living in households with income below the federal poverty threshold, regardless of age. It is an important indicator of economic hardship and inequality within the state and can inform policy decisions related to social safety nets, workforce development, and community investment.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Trends in the poverty universe can provide insights into the overall health of Minnesota's economy and inform decisions around state-level fiscal and social policies.
Key Facts
- Minnesota's poverty universe reached a high of 705,000 in 2010.
- The poverty universe declined to 555,000 as of the latest data in 2021.
- Poverty rates are higher in urban areas like the Twin Cities compared to rural regions.
FAQs
Q: What does this economic trend measure?
A: The 'Poverty Universe, All Ages for Minnesota' metric tracks the total number of individuals in Minnesota living in households with income below the federal poverty threshold, regardless of age.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for policymakers and economists to understand economic well-being and identify areas for targeted social programs within Minnesota.
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: Trends in the poverty universe can provide insights into the overall health of Minnesota's economy and inform decisions around state-level fiscal and social policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Poverty Universe, All Ages for Minnesota (PUAAMN27000A647NCEN), retrieved from FRED.