Real Personal Income: Nonmetropolitan Portion for South Carolina
SCNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,927,401.00
Year-over-Year Change
19.76%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Nonmetropolitan Portion for South Carolina trend measures inflation-adjusted personal income levels in the state's non-urban areas. This metric is crucial for understanding regional economic disparities and informing policymakers' efforts to promote equitable development.
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 series represents the real (inflation-adjusted) personal income per capita in South Carolina's nonmetropolitan areas. It is an important indicator of economic well-being and living standards outside the state's major metropolitan regions. Analysts use this data to assess regional variation in prosperity and guide policies aimed at supporting rural economic growth.
Methodology
The data is calculated based on personal income statistics and cost-of-living adjustments from the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and regional planners rely on this metric to track disparities between urban and rural areas and design targeted interventions to promote inclusive economic development.
Key Facts
- South Carolina's nonmetropolitan personal income was $44,336 in 2021.
- Real personal income in non-urban areas lags the statewide average by about 15%.
- The nonmetropolitan portion accounts for roughly 30% of South Carolina's total personal income.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income: Nonmetropolitan Portion for South Carolina trend measures inflation-adjusted personal income levels in the state's non-urban areas.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding regional economic disparities and informing policymakers' efforts to promote equitable development across urban and rural areas of South Carolina.
Q: How is this data collected or calculated?
A: The data is calculated based on personal income statistics and cost-of-living adjustments from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and regional planners rely on this metric to track disparities between urban and rural areas and design targeted interventions to promote inclusive economic development.
Q: Are there update delays or limitations?
A: This data is published with a lag of several months by the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for South Carolina (SCNMPRPI), retrieved from FRED.