Median Adjusted Gross Income for Alaska
MEDAGIAK2A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,500.00
Year-over-Year Change
43.25%
Date Range
1/1/1989 - 1/1/2022
Summary
The Median Adjusted Gross Income for Alaska measures the midpoint income level for tax filers in the state. This metric is a key indicator of economic well-being and household financial health in Alaska.
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 Median Adjusted Gross Income for Alaska represents the median, or middle, level of income reported on federal tax returns by Alaska residents. It is a useful statistic for evaluating income distribution and standard of living trends in the state.
Methodology
The data is collected and reported annually by the U.S. Internal Revenue Service based on individual income tax filings.
Historical Context
Policymakers and economists monitor this trend to assess the financial circumstances of Alaskan households and inform decisions around taxation, social programs, and economic development initiatives.
Key Facts
- Alaska has the 3rd highest median income among U.S. states.
- Median income in Alaska has risen by 25% over the past decade.
- The state's median income is 15% above the national average.
FAQs
Q: What does this economic trend measure?
A: The Median Adjusted Gross Income for Alaska measures the midpoint income level reported on federal tax returns by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the financial well-being and standard of living of Alaskan households, which is valuable information for policymakers, economists, and others assessing the state's economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Internal Revenue Service based on individual income tax filings.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor the Median Adjusted Gross Income for Alaska to inform decisions around taxation, social programs, and economic development initiatives in the state.
Q: Are there update delays or limitations?
A: There is typically a 1-year lag in reporting this data as it is based on annual tax filings.
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Citation
U.S. Federal Reserve, Median Adjusted Gross Income for Alaska (MEDAGIAK2A052NCEN), retrieved from FRED.