Real Per Capita Personal Income: Nonmetropolitan Portion for Wisconsin
WINMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,113.00
Year-over-Year Change
19.83%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic trend measures the real per capita personal income for the nonmetropolitan portion of Wisconsin. It provides insights into the economic well-being and purchasing power of residents outside of 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 Wisconsin metric tracks the inflation-adjusted average income per person in the state's rural and small-town regions. It is a key indicator of the economic conditions and standard of living experienced by non-urban Wisconsin residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers, economists, and local leaders to assess the economic vitality of Wisconsin's nonmetropolitan communities.
Key Facts
- Wisconsin's nonmetropolitan per capita personal income was $50,324 in 2021.
- This metric has grown by an average of 2.1% annually over the past decade.
- Nonmetropolitan areas account for 29% of Wisconsin's total personal income.
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 the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the economic well-being and purchasing power of residents in Wisconsin's rural and small-town communities, which is crucial information for policymakers, economists, and local leaders.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and local leaders to assess the economic vitality of Wisconsin's nonmetropolitan communities and inform policy decisions related to regional development and rural economic conditions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, but it provides a comprehensive and reliable measure of nonmetropolitan personal income in Wisconsin.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Wisconsin (WINMPRPIPC), retrieved from FRED.