Income After Taxes: Income After Taxes by Age: Under Age 25
CXUINCAFTTXLB0402M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,278.00
Year-over-Year Change
86.50%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures after-tax income for individuals under age 25 in the United States. It provides insights into the financial well-being of young adults, which is crucial for understanding economic inequality and consumer trends.
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 After Taxes by Age: Under Age 25 series tracks the average after-tax income for Americans under 25 years old. This metric offers a detailed view of the financial status of young adults, a key demographic for policymakers and businesses alike.
Methodology
The data is collected through the U.S. Census Bureau's Current Population Survey and calculated by the Bureau of Economic Analysis.
Historical Context
This trend is widely used by economists, government agencies, and market analysts to assess the financial health and spending power of younger consumers.
Key Facts
- Average after-tax income for under-25s was $27,194 in 2021.
- This age group saw a 6.2% increase in after-tax income from 2020 to 2021.
- Incomes for young adults remain well below the national average.
FAQs
Q: What does this economic trend measure?
A: The Income After Taxes by Age: Under Age 25 series tracks the average after-tax income for Americans under 25 years old.
Q: Why is this trend relevant for users or analysts?
A: This metric offers crucial insights into the financial status of young adults, a key demographic for policymakers and businesses assessing economic inequality and consumer trends.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's Current Population Survey and calculated by the Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, government agencies, and market analysts to assess the financial health and spending power of younger consumers.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Income After Taxes: Income After Taxes by Age: Under Age 25 (CXUINCAFTTXLB0402M), retrieved from FRED.