Proprietors' Nonfarm Income in Hawaii
HIONON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,853.50
Year-over-Year Change
12.32%
Date Range
1/1/1950 - 1/1/2025
Summary
Proprietors' Nonfarm Income in Hawaii measures the total income earned by self-employed individuals in the state's non-farm sectors. This metric provides insight into the economic health and activity of Hawaii's small businesses and entrepreneurs.
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
Proprietors' Nonfarm Income represents the total pre-tax income earned by sole proprietors and partners operating businesses outside of the farming industry in Hawaii. This metric is a key indicator of small business performance and self-employment trends in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax records and economic surveys.
Historical Context
Policymakers and economists analyze this trend to understand the dynamics of Hawaii's service-oriented, tourism-driven economy.
Key Facts
- Hawaii has a large service and tourism-based economy.
- Proprietors' income accounts for over 10% of Hawaii's total personal income.
- Small businesses make up over 99% of all firms in Hawaii.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Nonfarm Income in Hawaii measures the total pre-tax income earned by self-employed individuals operating non-farm businesses in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and economic contribution of Hawaii's small businesses and entrepreneurial activities outside of the agricultural sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax records and economic surveys.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand the dynamics of Hawaii's service-oriented, tourism-driven economy and make informed decisions.
Q: Are there update delays or limitations?
A: There may be a several month delay in data availability due to the time required for collection and processing.
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Citation
U.S. Federal Reserve, Proprietors' Nonfarm Income in Hawaii (HIONON), retrieved from FRED.