Mean Adjusted Gross Income for Rhode Island
MEANAGIRI44A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
90,000.00
Year-over-Year Change
50.66%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Rhode Island measures the average adjusted gross income reported by individual taxpayers in the state. This economic indicator provides insights into the overall income levels and wealth distribution within Rhode Island.
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 Rhode Island is a key statistic that reflects the typical income levels of individuals and households in the state. It is commonly used by economists, policymakers, and researchers to analyze trends in personal wealth, consumer spending, and the state's economic performance.
Methodology
The data is collected and calculated by the U.S. Internal Revenue Service based on individual tax return filings.
Historical Context
This economic trend is closely monitored by state and federal officials to inform policy decisions and economic development strategies.
Key Facts
- Rhode Island's mean adjusted gross income was $69,827 in 2020.
- The state's mean AGI has grown by 25% over the past decade.
- Rhode Island ranks 25th among U.S. states in mean adjusted gross income.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Rhode Island measures the average income reported on individual tax returns filed by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the overall wealth and income levels of Rhode Island's population, which is useful for economic analysis, policy planning, and investment decisions.
Q: How is this data collected or calculated?
A: The data is based on individual tax return filings processed by the U.S. Internal Revenue Service.
Q: How is this trend used in economic policy?
A: State and federal policymakers monitor changes in mean adjusted gross income to inform decisions around taxation, public spending, economic development initiatives, and other policies that impact personal wealth and household finances.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 year lag as the IRS processes tax returns, but it provides a comprehensive picture of income levels across the state.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Rhode Island (MEANAGIRI44A052NCEN), retrieved from FRED.