Mean Adjusted Gross Income for South Dakota
MEANAGISD46A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
93,000.00
Year-over-Year Change
71.46%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for South Dakota tracks the average income reported on federal tax returns by South Dakota residents. This key economic indicator provides insights into the financial well-being and spending power of South Dakotans.
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 South Dakota is a statistic compiled by the U.S. Census Bureau that represents the mean, or average, adjusted gross income (AGI) reported on tax returns filed by individuals living in the state of South Dakota. AGI is a commonly used metric that economists and policymakers monitor to gauge overall income and economic conditions.
Methodology
The data is collected directly from individual income tax returns filed with the Internal Revenue Service (IRS).
Historical Context
This metric is used to analyze income trends, consumer spending, and the broader economic health of South Dakota.
Key Facts
- The mean AGI for South Dakota in the latest year was $57,864.
- South Dakota has no state income tax, which impacts its AGI figures.
- AGI has grown by an average of 2.5% annually in South Dakota over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for South Dakota tracks the average income reported on federal tax returns by individuals living in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall financial well-being and spending power of South Dakota residents, which is useful for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from individual income tax returns filed with the Internal Revenue Service (IRS).
Q: How is this trend used in economic policy?
A: This metric is used to analyze income trends, consumer spending, and the broader economic health of South Dakota, informing policy decisions at the state and federal level.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a tax year and the release of the finalized data.
Related Trends
Gross Domestic Product: Arts, Entertainment, and Recreation (71) in South Dakota
SDARTENTRECNGSP
Commercial Carbon Dioxide Emissions, Residual Fuel for South Dakota
EMISSCO2VRFCCBSDA
Employed Involuntary Part-Time for South Dakota
INVOLPTEMPSD
Wholesale Trade Earnings in South Dakota
SDEWHO
Average Weekly Earnings of All Employees: Goods Producing in South Dakota
SMU46000000600000011
Gross Domestic Product: Trade (42, 44-45) in South Dakota
SDTRADENGSP
Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for South Dakota (MEANAGISD46A052NCEN), retrieved from FRED.