Real Per Capita Personal Income for Arkansas
ARRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,330.00
Year-over-Year Change
34.02%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Arkansas measures the average real (inflation-adjusted) income per person in the state. It is a key indicator of economic well-being and standard of living.
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
Real Per Capita Personal Income for Arkansas represents the total real personal income in the state divided by the total population. It is used to track changes in the purchasing power and living standards of Arkansas residents over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
This metric is closely watched by policymakers, economists, and residents to gauge the economic health and growth of Arkansas.
Key Facts
- Arkansas's real per capita personal income was $47,186 in 2021.
- The state's real per capita income has grown by 24% over the past 10 years.
- Arkansas's real per capita income is below the national average.
FAQs
Q: What does this economic trend measure?
A: Real Per Capita Personal Income for Arkansas measures the average real (inflation-adjusted) income per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and living standards in Arkansas, providing insights into the purchasing power and quality of life for residents.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for the state.
Q: How is this trend used in economic policy?
A: Real per capita personal income is closely monitored by policymakers, economists, and residents to gauge the economic health and growth of Arkansas, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Arkansas (ARRPIPC), retrieved from FRED.