Mean Adjusted Gross Income for Kentucky
MEANAGIKY21A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,500.00
Year-over-Year Change
50.40%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Kentucky metric tracks the average income reported on federal tax returns filed by Kentucky residents. This data point is important for economists and policymakers to understand income trends and distribution within the state.
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 Mean Adjusted Gross Income for Kentucky represents the arithmetic mean of all adjusted gross incomes reported on tax returns submitted by Kentucky taxpayers. This statistic provides insight into the typical income level and standard of living for Kentucky residents compared to national averages.
Methodology
The data is calculated by the U.S. Census Bureau based on Internal Revenue Service tax return filings.
Historical Context
Policymakers use this metric to inform decisions around taxation, social programs, and economic development initiatives in Kentucky.
Key Facts
- The mean AGI for Kentucky was $54,305 in 2021.
- Kentucky's mean AGI is below the national average of $62,755.
- AGI levels vary significantly by county within Kentucky.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Kentucky measures the average income reported on federal tax returns filed by Kentucky residents.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the typical income and standard of living for Kentucky residents, which is important for economic analysis and policymaking decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on Internal Revenue Service tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform decisions around taxation, social programs, and economic development initiatives in Kentucky.
Q: Are there update delays or limitations?
A: There may be a 1-2 year delay in the availability of the most recent data due to the time required for tax return processing and compilation.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Kentucky (MEANAGIKY21A052NCEN), retrieved from FRED.