Income Before Taxes: Income Before Taxes by Region: Residence in the Northeast Census Region
CXUINCBEFTXLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116,860.00
Year-over-Year Change
62.91%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures income before taxes for individuals residing in the Northeast Census Region of the United States. It provides valuable insights into the financial well-being and spending power of households in this 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 Before Taxes by Region: Residence in the Northeast Census Region metric tracks the average income reported by taxpayers living in the Northeastern states before deductions and tax payments are accounted for. This data is used by economists and policymakers to analyze regional economic trends and inform decisions related to taxation, social programs, and investments.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service (IRS) based on individual income tax returns.
Historical Context
This economic indicator is widely used by government agencies, financial institutions, and economic research organizations to understand regional economic conditions and inform policy decisions.
Key Facts
- The Northeast Census Region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- In 2021, the average income before taxes for individuals residing in the Northeast Census Region was $84,212.
- Income before taxes in the Northeast is typically higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average income before taxes reported by individuals residing in the Northeast Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This data provides valuable insights into the financial well-being and spending power of households in the Northeastern states, which is important for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Internal Revenue Service (IRS) based on individual income tax returns.
Q: How is this trend used in economic policy?
A: This economic indicator is widely used by government agencies, financial institutions, and economic research organizations to understand regional economic conditions and inform policy decisions related to taxation, social programs, and investments.
Q: Are there update delays or limitations?
A: The data is typically released with a delay of several months, and may be subject to revisions as additional tax information becomes available.
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Citation
U.S. Federal Reserve, Income Before Taxes: Income Before Taxes by Region: Residence in the Northeast Census Region (CXUINCBEFTXLB1102M), retrieved from FRED.