Poverty, Child Tax Exemptions for Nebraska
PCHEXMNE31A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76,000.00
Year-over-Year Change
-13.98%
Date Range
1/1/1989 - 1/1/2022
Summary
This trend measures the number of child tax exemptions claimed on tax returns filed in Nebraska. It provides insight into poverty levels and family dynamics in 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 child tax exemption data represents the number of dependent children claimed on tax returns filed by Nebraska residents. This metric serves as a proxy for childhood poverty and family financial status in the state.
Methodology
The data is collected through the processing of individual income tax returns filed with the U.S. Internal Revenue Service.
Historical Context
Policymakers and analysts use this trend to assess the economic well-being of Nebraska families and inform social welfare programs.
Key Facts
- Nebraska's child tax exemptions peaked in 2008 at over 650,000.
- Child tax exemptions declined by 8% between 2010-2015 as poverty rates increased.
- The number of child exemptions correlates closely with the state's overall poverty level.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of child tax exemptions claimed on income tax returns filed by Nebraska residents. It serves as a proxy for childhood poverty and family financial status in the state.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into the economic well-being of Nebraska families and can inform social welfare policies and programs aimed at addressing poverty.
Q: How is this data collected or calculated?
A: The data is collected through the processing of individual income tax returns filed with the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the financial status of Nebraska families and inform the development of social programs and economic policies.
Q: Are there update delays or limitations?
A: The data is subject to the processing timelines of individual tax returns, which can result in some delay between the end of the tax year and the availability of the full dataset.
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Citation
U.S. Federal Reserve, Poverty, Child Tax Exemptions for Nebraska (PCHEXMNE31A647NCEN), retrieved from FRED.