Total Personal Income in Rhode Island
RIOTOT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
79,896.00
Year-over-Year Change
16.14%
Date Range
1/1/1948 - 1/1/2025
Summary
Total Personal Income in Rhode Island measures the aggregate income received by individuals residing in the state. It is a key indicator of economic activity and consumer spending power.
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 metric represents the total of all income sources for individuals, including wages, salaries, dividends, interest, rents, and government benefits. It is used by economists and policymakers to gauge the overall health and growth of the Rhode Island economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Historical Context
Total Personal Income figures are closely monitored for their implications on consumer demand, tax revenues, and the state's economic trajectory.
Key Facts
- Rhode Island's total personal income was $68 billion in 2021.
- Personal income grew by 4.2% in Rhode Island in 2021.
- Rhode Island accounts for about 1% of total U.S. personal income.
FAQs
Q: What does this economic trend measure?
A: The Total Personal Income in Rhode Island metric measures the aggregate income received by all individuals residing in the state from various sources, including wages, dividends, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: Total Personal Income is a key indicator of the overall health and growth of the Rhode Island economy, with implications for consumer spending, tax revenues, and economic policy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor Total Personal Income in Rhode Island to assess consumer demand, forecast tax revenues, and make informed decisions about economic policies and investments.
Q: Are there update delays or limitations?
A: The Total Personal Income data for Rhode Island is released quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Total Personal Income in Rhode Island (RIOTOT), retrieved from FRED.