Per Capita Personal Income in Arkansas
ARPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,663.00
Year-over-Year Change
64.41%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Arkansas trend measures the average income per person in the state. It is a key indicator of economic well-being and living standards for policymakers and analysts.
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
Per capita personal income represents the total personal income of residents in Arkansas divided by the state's population. It is a widely used metric for comparing economic conditions across regions and over time.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
This trend is closely monitored by state and federal policymakers to inform economic and social policies.
Key Facts
- Arkansas per capita personal income was $49,209 in 2021.
- Arkansas per capita income is below the national average.
- Personal income growth in Arkansas has lagged the U.S. in recent years.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Arkansas trend measures the average income earned per person in the state. It is a key indicator of economic well-being and living standards.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by policymakers, businesses, and analysts to assess the economic conditions and relative prosperity in Arkansas compared to the rest of the country.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for the state of Arkansas.
Q: How is this trend used in economic policy?
A: Per capita personal income is a crucial metric used by state and federal policymakers to inform economic, social, and development policies in Arkansas.
Q: Are there update delays or limitations?
A: The per capita personal income data for Arkansas is typically released by the BEA with a lag of several months, so the most recent figures may not reflect the current economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Income in Arkansas (ARPCPI), retrieved from FRED.