90% Confidence Interval Upper Bound of Estimate of Median Household Income for Utah
MHICIUBUT49000A052NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,360.00
Year-over-Year Change
66.83%
Date Range
1/1/1989 - 1/1/2023
Summary
The 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Utah measures the upper bound of the range within which the true median household income in Utah is expected to fall with 90% confidence.
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 indicator provides insight into the distribution and uncertainty around estimates of median household income in Utah. It is used by policymakers, economists, and researchers to understand the financial well-being of Utah households and inform policy decisions.
Methodology
The data is calculated by the U.S. Census Bureau based on survey responses.
Historical Context
This metric is relevant for analyzing regional economic trends and informing policy aimed at improving household financial security.
Key Facts
- The upper bound of the 90% confidence interval was $84,302 in 2021.
- Utah's median household income is consistently higher than the national average.
- Income inequality remains a concern in Utah despite high overall incomes.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the upper bound of the 90% confidence interval around the estimate of median household income in Utah. It provides insight into the uncertainty of the income estimate.
Q: Why is this trend relevant for users or analysts?
A: The confidence interval around median household income is important for understanding the distribution of incomes and informing policy decisions aimed at promoting financial security and reducing inequality.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Census Bureau based on survey responses from Utah households.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze regional economic trends and inform policies targeting household financial well-being and income inequality in Utah.
Q: Are there update delays or limitations?
A: The data is subject to the same update schedule and limitations as the underlying median household income estimates from the Census Bureau.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Upper Bound of Estimate of Median Household Income for Utah (MHICIUBUT49000A052NCEN), retrieved from FRED.