Real Per Capita Personal Income for Massachusetts
MARPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
69,512.00
Year-over-Year Change
23.23%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Massachusetts measure tracks the average inflation-adjusted income per person in the state. It is a key indicator of economic well-being and purchasing power for Massachusetts residents.
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
Real Per Capita Personal Income represents the total personal income in Massachusetts divided by the state's population, adjusted for inflation. It is widely used by economists and policymakers to assess the economic conditions and standard of living in the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
This metric helps inform economic and fiscal policy decisions at the state level.
Key Facts
- Massachusetts ranks among the highest states for real per capita personal income.
- Real per capita income has risen steadily in Massachusetts over the past decade.
- Cost of living adjustments are important when interpreting this metric for the state.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Massachusetts 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 economic well-being and purchasing power for Massachusetts residents, helping to inform policy decisions.
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.
Q: How is this trend used in economic policy?
A: Real per capita personal income is used by economists and policymakers to assess the economic conditions and standard of living in Massachusetts, informing fiscal and economic policies at the state level.
Q: Are there update delays or limitations?
A: The data is published with a lag, so there may be a delay in reflecting the most recent economic conditions in Massachusetts.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Massachusetts (MARPIPC), retrieved from FRED.