Real Per Capita Personal Income: Metropolitan Portion for Wisconsin
WIMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,548.00
Year-over-Year Change
23.55%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Wisconsin measures the average income for individuals in metropolitan areas of Wisconsin, adjusted for inflation. This statistic is vital for analyzing economic conditions and guiding policy decisions.
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 represents the purchasing power of personal income for residents of metropolitan Wisconsin, providing insight into the state's economic performance. It is used by economists, policymakers, and local governments to assess growth, compare regional trends, and inform economic strategies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Policymakers and businesses monitor this metric to understand consumer spending power and make informed decisions.
Key Facts
- Wisconsin's real per capita personal income in metropolitan areas was $55,789 in 2021.
- This metric has grown by an average of 2.3% annually over the past decade.
- Metropolitan areas account for over 70% of Wisconsin's total personal income.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average real (inflation-adjusted) personal income per person in metropolitan areas of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the purchasing power and economic well-being of Wisconsin residents, which is crucial for policymakers, businesses, and researchers.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis compiles this data using personal income and population statistics for Wisconsin's metropolitan areas.
Q: How is this trend used in economic policy?
A: Governments and policymakers monitor this metric to assess regional economic conditions, inform policy decisions, and make informed choices about infrastructure, taxation, and other initiatives.
Q: Are there update delays or limitations?
A: This data is published with a lag of several months, and may not capture the most recent economic changes. Additionally, it only covers metropolitan areas, excluding rural regions of Wisconsin.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Wisconsin (WIMPRPIPC), retrieved from FRED.