Per Capita Personal Income in Virginia
VAPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,093.00
Year-over-Year Change
57.18%
Date Range
1/1/1929 - 1/1/2024
Summary
Per Capita Personal Income in Virginia measures the average personal income per person in the state. It is a key indicator of economic well-being and standard of living for Virginians.
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
Per Capita Personal Income in Virginia represents the total personal income in the state divided by the total population. It is widely used by economists, policymakers, and analysts to assess the economic conditions and compare the relative prosperity of Virginia residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax records and household surveys.
Historical Context
This metric is crucial for evaluating the effectiveness of state economic and social policies.
Key Facts
- Virginia's per capita personal income was $63,907 in 2021.
- Virginia's per capita personal income is higher than the national average.
- Per capita personal income growth in Virginia has outpaced the U.S. in recent years.
FAQs
Q: What does this economic trend measure?
A: Per Capita Personal Income in Virginia measures the average personal income per person in the state. It includes wages, salaries, supplements, and other sources of income.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and standard of living for Virginians, and is widely used by economists, policymakers, and analysts to assess the state's economic conditions.
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 tax records and household surveys.
Q: How is this trend used in economic policy?
A: Per capita personal income in Virginia is crucial for evaluating the effectiveness of state economic and social policies, as well as for comparing the relative prosperity of Virginia residents to other states.
Q: Are there update delays or limitations?
A: The data is typically released 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, Per Capita Personal Income in Virginia (VAPCPI), retrieved from FRED.