90% Confidence Interval Lower Bound of Estimate of Median Household Income for Pennsylvania
MHICILBPA42000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,318.00
Year-over-Year Change
46.84%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Pennsylvania. It provides insight into the economic well-being of Pennsylvania 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 90% confidence interval lower bound for median household income in Pennsylvania represents the lower end of the range in which the true median income is expected to fall, with 90% confidence. This statistic helps analysts and policymakers understand the distribution of household incomes and assess economic conditions in the state.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This trend is used by economists, policymakers, and market analysts to monitor the economic health of Pennsylvania and make informed decisions.
Key Facts
- The lower bound represents the 5th percentile of the income distribution.
- The trend has been declining since the Great Recession.
- Low-income households in Pennsylvania are a key focus for policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the estimate of median household income in Pennsylvania. It provides insight into the distribution of household incomes in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the economic well-being of households in Pennsylvania and informing policy decisions aimed at addressing income inequality and supporting low-income families.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the economic conditions in Pennsylvania and make informed decisions about programs and policies targeting low-income households.
Q: Are there update delays or limitations?
A: The data is released annually with a delay of approximately one year, and the confidence interval may be subject to sampling and non-sampling errors.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Pennsylvania (MHICILBPA42000A052NCEN), retrieved from FRED.