Proprietors' Nonfarm Income in Utah
UTONON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,150.40
Year-over-Year Change
13.04%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Nonfarm Income in Utah measures the total personal income earned by self-employed individuals in the state. It provides insight into entrepreneurial activity and economic conditions.
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 indicator tracks the earnings of sole proprietors, independent contractors, and other self-employed persons in Utah, excluding income from farms. It is an important metric for understanding the strength of the state's small business sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using tax records and survey information.
Historical Context
Proprietors' Income is closely watched by policymakers and analysts as a gauge of economic dynamism and business confidence.
Key Facts
- Utah has one of the highest rates of entrepreneurship in the U.S.
- Nonfarm proprietors account for over 20% of personal income in Utah.
- Proprietors' Income in Utah has grown steadily since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Nonfarm Income in Utah measures the total personal income earned by self-employed individuals in the state, excluding income from farms.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into entrepreneurial activity and the strength of Utah's small business sector, which is an important driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using tax records and survey information.
Q: How is this trend used in economic policy?
A: Proprietors' Income is closely watched by policymakers and analysts as a gauge of economic dynamism and business confidence in Utah.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Proprietors' Nonfarm Income in Utah (UTONON), retrieved from FRED.