Real Per Capita Personal Income: Nonmetropolitan Portion for Illinois
ILNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
53,473.00
Year-over-Year Change
17.97%
Date Range
1/1/2008 - 1/1/2023
Summary
The 'Real Per Capita Personal Income: Nonmetropolitan Portion for Illinois' series measures the average inflation-adjusted income per person in non-urban areas of Illinois. This metric is important for economists and policymakers to understand regional economic disparities and trends.
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) per capita personal income specifically for the nonmetropolitan areas of Illinois. It provides insight into the economic well-being and purchasing power of residents outside of the state's major urban centers.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income information and population estimates.
Historical Context
This metric is used to analyze regional economic conditions and inform policies aimed at promoting balanced growth across urban and rural areas.
Key Facts
- Illinois nonmetropolitan per capita income was $49,700 in 2021.
- Real per capita income in Illinois non-urban areas has grown by 18% since 2010.
- Nonmetropolitan areas account for 15% of Illinois' total personal income.
FAQs
Q: What does this economic trend measure?
A: This series measures the average inflation-adjusted personal income per person living in the non-urban areas of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and purchasing power of Illinois residents outside of major metropolitan regions, which is important for understanding regional disparities and informing policymaking.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income information and population estimates for non-urban Illinois areas.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze regional economic conditions and inform policies aimed at promoting balanced growth and development across urban and rural areas of Illinois.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Illinois (ILNMPRPIPC), retrieved from FRED.