90% Confidence Interval Lower Bound of Estimate of Median Household Income for Indiana
MHICILBIN18000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,663.00
Year-over-Year Change
49.38%
Date Range
1/1/1989 - 1/1/2023
Summary
The 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Indiana measures the lower bound of the 90% confidence interval for the median household income in the state of Indiana.
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 provides insight into the distribution of household incomes in Indiana, giving policymakers and analysts a sense of economic well-being and inequality within the state.
Methodology
The data is calculated by the U.S. Census Bureau using survey data.
Historical Context
This trend is used by economists and policymakers to understand income trends and inform policy decisions.
Key Facts
- The 90% confidence interval provides a range for the true median household income.
- Indiana's median household income was $56,303 in 2020.
- The lower bound indicates income levels below which 5% of households fall.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the median household income in Indiana.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the distribution of household incomes in Indiana, informing policymakers and analysts about economic well-being and inequality in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau using survey data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to understand income trends and inform policy decisions that affect household economic well-being in Indiana.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the U.S. Census Bureau's household income surveys.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Indiana (MHICILBIN18000A052NCEN), retrieved from FRED.