Poverty Universe, Age 5-17 related for Massachusetts
PUA5T17RMA25000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
980,529.00
Year-over-Year Change
-4.28%
Date Range
1/1/1998 - 1/1/2023
Summary
This economic trend measures the poverty universe for people aged 5-17 in Massachusetts. It is an important metric for understanding the economic well-being of children and families 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 poverty universe is the total population of people living in poverty. This specific series tracks the number of 5-17 year-olds in Massachusetts that are considered part of the poverty universe, providing insights into the prevalence of child poverty in the state.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This metric is widely used by policymakers, researchers, and social services organizations to inform decisions and programs aimed at reducing poverty and supporting vulnerable populations.
Key Facts
- The poverty universe for 5-17 year-olds in Massachusetts was 218,450 in 2021.
- Child poverty rates in Massachusetts are lower than the national average.
- Poverty data helps target resources and programs to support low-income families.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of 5-17 year-olds in Massachusetts who are considered part of the poverty universe, or living in poverty.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the prevalence of child poverty in Massachusetts, which is crucial for informing social welfare policies and programs aimed at supporting vulnerable populations.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers, researchers, and social services organizations use this metric to understand the economic well-being of children and families, and to inform decisions and programs aimed at reducing poverty.
Q: Are there update delays or limitations?
A: The data is updated annually, with a typical 1-2 year delay. Limitations include potential sampling errors and changes in survey methodology over time.
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Citation
U.S. Federal Reserve, Poverty Universe, Age 5-17 related for Massachusetts (PUA5T17RMA25000A647NCEN), retrieved from FRED.