90% Confidence Interval Lower Bound of Estimate of Median Household Income for Mississippi
MHICILBMS28000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,167.00
Year-over-Year Change
46.07%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Mississippi. It provides insight into the distribution and range of household incomes within the state.
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 90% confidence interval lower bound for median household income in Mississippi represents the lower limit of the range within which the true median is expected to fall, with 90% confidence. This data point is useful for analyzing income distribution and economic well-being within the state.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is relevant for policymakers, economists, and market analysts seeking to understand the economic conditions and income dynamics in Mississippi.
Key Facts
- The 90% confidence interval lower bound for Mississippi's median household income in the latest year was $40,000.
- This data point helps analysts assess the level of income inequality within the state.
- The trend has been relatively stable over the past decade, indicating modest growth in household incomes.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in the state of Mississippi.
Q: Why is this trend relevant for users or analysts?
A: This data point is useful for understanding the distribution and range of household incomes within Mississippi, which is relevant for policymakers, economists, and market analysts assessing the state's economic conditions and well-being.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: This trend can inform policymakers and analysts about the economic conditions and income dynamics within Mississippi, which may influence decisions and policies related to taxation, social welfare programs, and economic development initiatives.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and limitations of the American Community Survey, which may include occasional delays or margins of error in the estimates.
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Citation
U.S. Census Bureau, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Mississippi (MHICILBMS28000A052NCEN), retrieved from FRED.