Real Per Capita Personal Income for Colorado
CORPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65,589.00
Year-over-Year Change
43.69%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Colorado measures the average inflation-adjusted personal income per person in the state. It is a key economic indicator used to assess the financial well-being and purchasing power of Colorado residents.
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 tracks the real, inflation-adjusted personal income per capita in Colorado over time. It provides insight into the growth and distribution of economic resources across the state's population, which is valuable for policymakers and economists analyzing economic trends and consumer demand.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Real per capita personal income is widely used to evaluate economic conditions and guide policy decisions at the state and local level.
Key Facts
- Colorado's real per capita personal income was $57,943 in 2021.
- Real per capita income in Colorado has grown by 23% over the past decade.
- Colorado's real per capita income is 8% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Colorado measures the average inflation-adjusted personal income earned per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insight into the overall financial well-being and purchasing power of Colorado residents, which is crucial for economic analysis and policy decisions.
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 statistics for the state of Colorado.
Q: How is this trend used in economic policy?
A: Real per capita personal income is widely used by policymakers, economists, and market analysts to evaluate economic conditions and guide decisions at the state and local level.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Colorado (CORPIPC), retrieved from FRED.