Proprietors' Nonfarm Income in Massachusetts
MAONON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,392.80
Year-over-Year Change
11.75%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Nonfarm Income in Massachusetts measures the income earned by sole proprietors and partnerships in the state's non-farm industries. It is an important indicator of small business activity and self-employment in the state's economy.
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 economic trend represents the total income earned by proprietors, which includes business owners, independent contractors, and self-employed individuals, across a range of non-agricultural industries in Massachusetts. It is used by economists and policymakers to gauge entrepreneurial activity and assess the health of the state's small business sector.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its regional income accounts.
Historical Context
Proprietors' Nonfarm Income is closely watched by state officials and the Federal Reserve to understand trends in small business performance and its implications for the broader Massachusetts economy.
Key Facts
- Proprietors' Nonfarm Income in Massachusetts totaled $92.7 billion in 2021.
- It has grown at an average annual rate of 4.2% over the past 10 years.
- Small businesses account for over 99% of all firms in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Nonfarm Income in Massachusetts measures the total income earned by sole proprietors and partnerships across the state's non-agricultural industries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the performance and health of the small business sector in Massachusetts, which is crucial for understanding the state's broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its regional income accounts.
Q: How is this trend used in economic policy?
A: Proprietors' Nonfarm Income is closely monitored by state officials and the Federal Reserve to assess small business activity and its implications for the Massachusetts economy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Bureau of Economic Analysis, Proprietors' Nonfarm Income in Massachusetts (MAONON), retrieved from FRED.