Income Before Taxes: Social Security, Private & Government Retirement by Region: Residence in the Midwest Census Region
CXURETIRINCLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,839.00
Year-over-Year Change
45.65%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures income before taxes from Social Security, private, and government retirement sources for individuals residing in the Midwest census region of the United States. It provides valuable insights into the financial well-being and economic security of retirees 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: Social Security, Private & Government Retirement by Region: Residence in the Midwest Census Region data series tracks the total income from various retirement sources for people living in the Midwest region. This metric is important for understanding the economic conditions and financial stability of retirees in this part of the country.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of households in the Midwest region.
Historical Context
This economic trend is used by policymakers, economists, and financial analysts to assess the financial security and spending power of retirees in the Midwest, which can inform decisions related to social programs, retirement policies, and market trends.
Key Facts
- The Midwest region includes 12 states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin.
- Retirement income sources include Social Security, private pensions, and government pensions.
- This data series is released monthly by the U.S. Census Bureau.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total income before taxes from Social Security, private retirement, and government retirement sources for individuals residing in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the financial well-being and economic security of retirees in the Midwest region, which can inform policymaking, market analysis, and understanding of regional economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of households in the Midwest region.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and financial analysts use this trend to assess the financial security and spending power of retirees in the Midwest, which can inform decisions related to social programs, retirement policies, and market trends.
Q: Are there update delays or limitations?
A: This data series is released monthly by the U.S. Census Bureau, with potential delays in data availability.
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Citation
U.S. Census Bureau, Income Before Taxes: Social Security, Private & Government Retirement by Region: Residence in the Midwest Census Region (CXURETIRINCLB1103M), retrieved from FRED.