Real Per Capita Personal Income: Nonmetropolitan Portion for South Carolina
SCNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,395.00
Year-over-Year Change
24.18%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the real per capita personal income for the nonmetropolitan portion of South Carolina. It provides insights into the economic well-being and purchasing power of individuals living outside the state's metropolitan areas.
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 Real Per Capita Personal Income: Nonmetropolitan Portion for South Carolina tracks the inflation-adjusted average income per person in the non-urban regions of the state. This metric is useful for analyzing regional economic disparities and informing policymakers about development needs outside of major population centers.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal income and population estimates.
Historical Context
This trend is relevant for assessing the economic health and policies affecting rural and small-town communities in South Carolina.
Key Facts
- Nonmetropolitan areas make up over 50% of South Carolina's land area.
- Real per capita personal income in nonmetropolitan SC is about 75% of the statewide average.
- This trend has shown modest growth in recent years but remains below national rural income levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted per capita personal income for the nonmetropolitan portion of South Carolina. It provides insights into the economic well-being of individuals living outside the state's major urban areas.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for analyzing regional economic disparities and informing policymakers about development needs and opportunities in rural and small-town communities in South Carolina.
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 personal income and population estimates for nonmetropolitan areas in South Carolina.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing the economic health and informing policies affecting rural and small-town communities in South Carolina, such as programs and investments targeting regional economic development.
Q: Are there update delays or limitations?
A: There may be delays of several months in the release of this data, and the nonmetropolitan geographic definition can change over time, affecting comparisons.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for South Carolina (SCNMPRPIPC), retrieved from FRED.