Mean Adjusted Gross Income for Massachusetts
MEANAGIMA25A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126,000.00
Year-over-Year Change
58.92%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Massachusetts measures the average income reported on federal tax returns for residents of Massachusetts. This metric provides insight into the overall economic well-being and purchasing power of Massachusetts households.
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 Massachusetts is a key indicator of the income levels and economic status of the state's population. It reflects the typical income earned by taxpayers in Massachusetts and is used by economists and policymakers to assess trends in personal wealth and consumer spending within the state.
Methodology
The data is calculated by the U.S. Census Bureau based on Internal Revenue Service tax records.
Historical Context
Policymakers and market analysts use this metric to understand the broader economic climate and consumer demand within Massachusetts.
Key Facts
- Massachusetts has one of the highest average incomes in the U.S.
- Incomes in Massachusetts are approximately 30% above the national average.
- The mean AGI has grown steadily in Massachusetts over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Massachusetts measures the average income reported on federal tax returns by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall economic well-being and purchasing power of households in Massachusetts, which is useful for economists, policymakers, and market analysts.
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 records.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this metric to understand broader economic conditions and consumer demand within Massachusetts.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately 12-18 months after the end of the tax year.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Massachusetts (MEANAGIMA25A052NCEN), retrieved from FRED.