Real Personal Income: Nonmetropolitan Portion for Hawaii
HINMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,396,264.00
Year-over-Year Change
36.78%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Nonmetropolitan Portion for Hawaii measures the purchasing power of personal income in non-metropolitan areas of Hawaii, adjusted for inflation. This trend is important for understanding regional economic conditions and guiding policy decisions.
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
This series represents the real (inflation-adjusted) personal income for the non-metropolitan areas of Hawaii. It provides insight into the economic well-being and purchasing power of residents outside of Hawaii's major metropolitan regions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on personal income estimates.
Historical Context
This metric helps policymakers and economists assess economic trends and disparities within Hawaii.
Key Facts
- Hawaii's non-metropolitan personal income was $57,373 in 2021.
- Real personal income growth in Hawaii's non-metro areas has averaged 1.2% annually since 2010.
- This metric helps identify economic imbalances between urban and rural areas of Hawaii.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) personal income for the non-metropolitan areas of Hawaii, providing insight into the purchasing power and economic well-being of residents outside the state's major urban centers.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional economic conditions and disparities within Hawaii, which can inform policy decisions aimed at promoting balanced growth and supporting non-metropolitan communities.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on personal income estimates for Hawaii's non-metropolitan areas.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess economic trends and imbalances within Hawaii, which can guide decisions on investments, development programs, and other initiatives aimed at supporting non-metropolitan regions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the end of the reference period. Additionally, the non-metropolitan designation may not fully capture the nuances of Hawaii's unique geographic and demographic makeup.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Hawaii (HINMPRPI), retrieved from FRED.