Real Per Capita Personal Income: Nonmetropolitan Portion for Massachusetts
MANMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81,359.00
Year-over-Year Change
8.50%
Date Range
1/1/2008 - 1/1/2023
Summary
This trend measures the real per capita personal income for the nonmetropolitan portion of Massachusetts. It provides insights into the economic well-being and purchasing power of individuals living outside of the state's metropolitan areas.
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 Real Per Capita Personal Income: Nonmetropolitan Portion for Massachusetts tracks the inflation-adjusted average income per person in the rural and small-town areas of the state. This data is used by economists and policymakers to analyze regional economic disparities and develop targeted policies.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is valuable for understanding the relative economic conditions in Massachusetts's nonmetropolitan regions compared to the state as a whole or other parts of the country.
Key Facts
- The nonmetropolitan portion of Massachusetts accounts for around 14% of the state's total population.
- Real per capita personal income in nonmetropolitan Massachusetts was $56,789 in 2021.
- This metric has grown by an average of 2.1% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) per capita personal income for the nonmetropolitan portion of Massachusetts, providing insights into the economic well-being of individuals living in rural and small-town areas of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding regional economic disparities within Massachusetts and developing targeted policies to support the nonmetropolitan areas of the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the relative economic conditions in Massachusetts's nonmetropolitan regions compared to the state as a whole or other parts of the country, informing regional development policies and resource allocation.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, so there may be a delay in reflecting the most current economic conditions.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Massachusetts (MANMPRPIPC), retrieved from FRED.