90% Confidence Interval Lower Bound of Estimate of Median Household Income for Missouri
MHICILBMO29000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,601.00
Year-over-Year Change
51.17%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend represents the lower bound of the 90% confidence interval for the estimate of median household income in Missouri. It provides insight into the distribution and uncertainty around income levels in 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 90% confidence interval lower bound for median household income in Missouri offers a conservative estimate of income levels, indicating the value below which only 5% of households are expected to fall. This statistic is useful for policymakers and economists analyzing income disparities and economic well-being within the state.
Methodology
The data is collected and calculated by the U.S. Census Bureau as part of the American Community Survey.
Historical Context
This economic indicator helps inform policy decisions related to poverty, taxation, and social program funding at the state level.
Key Facts
- The lower bound was $50,732 in 2021.
- Missouri's median household income is below the national average.
- Income inequality remains a persistent challenge in the state.
FAQs
Q: What does this economic trend measure?
A: This trend represents the lower bound of the 90% confidence interval for the estimate of median household income in Missouri. It provides a conservative estimate of income levels in the state.
Q: Why is this trend relevant for users or analysts?
A: This statistic is useful for policymakers and economists analyzing income disparities and economic well-being within Missouri. It helps inform decisions related to poverty, taxation, and social program funding at the state level.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau as part of the American Community Survey.
Q: How is this trend used in economic policy?
A: This economic indicator helps inform policy decisions related to poverty, taxation, and social program funding at the state level in Missouri.
Q: Are there update delays or limitations?
A: The data is released annually with a slight delay, and may be subject to sampling and estimation uncertainties inherent in survey-based measurements.
Related Trends
Real Gross Domestic Product: Manufacturing (31-33) in Missouri
MOMANRGSP
Gross Domestic Product: Real Estate (531) in Missouri
MOREALNGSP
Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Missouri
MOFININSREALNGSP
All Employees: Mining and Logging in Missouri
SMU29000001000000001A
Chain-Type Quantity Index for Real GDP: Accommodation (721) in Missouri
MOACCOMDQGSP
All Employees: Construction in Missouri
MOCONS
Citation
U.S. Census Bureau, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Missouri (MHICILBMO29000A052NCEN), retrieved from FRED.