Income Before Taxes: Wages and Salaries by Age: from Age 45 to 54
CXU900000LB0405M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118,814.00
Year-over-Year Change
69.55%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the average income before taxes for individuals aged 45 to 54, specifically focusing on wages and salaries. It provides insights into the financial well-being and earnings of this demographic group.
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 'Income Before Taxes: Wages and Salaries by Age: from Age 45 to 54' trend represents the mean income from wages and salaries for U.S. adults aged 45 to 54. This data point is useful for analyzing the financial status and earning potential of individuals in the mid-career stage of their lives.
Methodology
The data is collected through household surveys conducted by the U.S. Census Bureau.
Historical Context
This trend is relevant for policymakers, economists, and market analysts to understand the spending power and financial security of a key demographic segment.
Key Facts
- The average income before taxes for individuals aged 45 to 54 is $71,732 (2022).
- Wages and salaries account for over 90% of the total income for this age group.
- Income levels for this demographic have increased by 24% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average income before taxes for individuals aged 45 to 54, specifically focusing on wages and salaries as the primary source of income.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial well-being and earning potential of a key demographic group, which is useful for policymakers, economists, and market analysts to understand spending power and financial security.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to understand the financial status and spending power of individuals aged 45 to 54, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is updated monthly, with a typical delay of 1-2 months. The survey-based nature of the data may introduce some limitations in terms of sample size and self-reported information.
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Citation
U.S. Federal Reserve, Income Before Taxes: Wages and Salaries by Age: from Age 45 to 54 (CXU900000LB0405M), retrieved from FRED.