Real Per Capita Personal Income for Idaho
IDRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,944.00
Year-over-Year Change
40.69%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Idaho measures the inflation-adjusted average income per person in the state. It is a key indicator of economic well-being and standard of living.
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 metric represents the total personal income in Idaho divided by the state's population, adjusted for inflation. It is used to analyze trends in economic prosperity and the purchasing power of Idaho residents.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Policymakers and analysts monitor this trend to assess the financial health and growth of the Idaho economy.
Key Facts
- Idaho's real per capita personal income was $51,700 in 2021.
- This trend has grown by 17% over the past decade.
- Idaho ranked 21st among U.S. states for real per capita personal income in 2021.
FAQs
Q: What does this economic trend measure?
A: Real Per Capita Personal Income for Idaho measures the average inflation-adjusted income per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the financial well-being and purchasing power of Idaho residents, providing insights into the state's economic prosperity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics for the state of Idaho.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the financial health and growth of the Idaho economy, informing decisions and policies that affect the state's residents.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Idaho (IDRPIPC), retrieved from FRED.