Net Earnings by Place of Residence in Rhode Island
RIENET • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48,896,112.00
Year-over-Year Change
14.31%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Net Earnings by Place of Residence in Rhode Island' metric tracks the total earnings of Rhode Island residents, including wages, salaries, and other compensation, minus taxes and other deductions.
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 series provides insights into the overall economic well-being of Rhode Island households, which is a key factor considered by policymakers and analysts when evaluating the state's economic performance and developing policies to support residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in net earnings are closely watched by economists and state officials to gauge consumer spending power and the overall health of the Rhode Island economy.
Key Facts
- Rhode Island's net earnings reached a record high of $57.8 billion in 2021.
- Net earnings per capita in Rhode Island were $54,700 in 2021.
- The services sector accounts for the largest share of net earnings in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: The 'Net Earnings by Place of Residence in Rhode Island' metric tracks the total earnings of Rhode Island residents, including wages, salaries, and other compensation, minus taxes and other deductions.
Q: Why is this trend relevant for users or analysts?
A: Trends in net earnings provide insights into the overall economic well-being of Rhode Island households, which is a key factor considered by policymakers and analysts when evaluating the state's economic performance and developing policies to support residents.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Trends in net earnings are closely watched by economists and state officials to gauge consumer spending power and the overall health of the Rhode Island economy, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Net Earnings by Place of Residence in Rhode Island (RIENET), retrieved from FRED.