Income After Taxes: Income After Taxes by Region: Residence in the Midwest Census Region
CXUINCAFTTXLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
80,964.00
Year-over-Year Change
36.32%
Date Range
1/1/1984 - 1/1/2023
Summary
This trend measures after-tax personal income for individuals residing in the Midwest census region of the United States. It is an important indicator of economic well-being and purchasing power for a major US geographic area.
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 Region: Residence in the Midwest Census Region series tracks total personal income net of federal, state, and local taxes paid by consumers living in the 12 states comprising the Midwest region. It provides insight into the disposable income available for spending and saving in this part of the country.
Methodology
The data is collected through household surveys and tax record information by the US Bureau of Economic Analysis.
Historical Context
This regional income data is used by policymakers, businesses, and economists to understand consumer trends and make informed decisions.
Key Facts
- The Midwest region includes 12 states, from Ohio to the Dakotas.
- After-tax incomes in the Midwest are typically lower than the national average.
- Disposable income is a key driver of consumer spending in the region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total personal income, after taxes, for individuals residing in the 12-state Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This regional income data provides insight into the purchasing power and consumer spending potential of a major US geographic area, which is valuable information for policymakers, businesses, and economists.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and tax record information by the US Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This Midwest region income data is used by policymakers, businesses, and economists to understand consumer trends and make informed decisions about economic policy, investment, and strategy.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis, but there may be some delays in reporting due to the underlying survey and tax collection processes.
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Citation
U.S. Federal Reserve, Income After Taxes: Income After Taxes by Region: Residence in the Midwest Census Region (CXUINCAFTTXLB1103M), retrieved from FRED.