90% Confidence Interval Lower Bound of Estimate of Median Household Income for Wisconsin
MHICILBWI55000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73,907.00
Year-over-Year Change
47.87%
Date Range
1/1/1989 - 1/1/2023
Summary
The 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Wisconsin measures the lower limit of the 90% confidence range for the median household income in the state of Wisconsin.
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
This economic trend provides insight into the distribution and variability of household incomes in Wisconsin, which is an important indicator of economic well-being and standard of living for the state's population.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
Policymakers and analysts use this metric to assess income inequality and guide economic policies.
Key Facts
- The data is released annually by the U.S. Census Bureau.
- The 90% confidence interval represents a range within which the true median household income has a 90% probability of falling.
- Wisconsin's 90% confidence interval lower bound provides a conservative estimate of household income levels in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the lower bound of the 90% confidence interval for the median household income in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: The 90% confidence interval lower bound is an important indicator of the distribution and variability of household incomes, which informs policymakers and analysts about economic well-being and inequality in Wisconsin.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses from households in Wisconsin.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess income inequality and guide economic policies aimed at improving the standard of living for Wisconsin's population.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Census Bureau, so there may be a delay of up to a year in the most recent available information.
Related Trends
Chain-Type Quantity Index for Real GDP: Manufacturing (31-33) in Wisconsin
WIMANQGSP
Real Gross Domestic Product: Educational Services (61) in Wisconsin
WIEDCATRQGSP
Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Wisconsin
WIRERENTLEAQGSP
Gross Domestic Product: Funds, Trusts, and Other Financial Vehicles (525) in Wisconsin
WIFNDTRSTNGSP
Average Weekly Earnings of All Employees: Professional and Business Services in Wisconsin
SMU55000006000000011A
All Employees: Financial Activities: Depository Credit Intermediation in Wisconsin
SMU55000005552210001A
Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of Median Household Income for Wisconsin (MHICILBWI55000A052NCEN), retrieved from FRED.