Per Capita Personal Income in Minnesota
MNPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,943.00
Year-over-Year Change
58.11%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Minnesota measures the average income per person in the state. It is a key indicator of economic well-being and living standards for policymakers and analysts.
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 data series tracks the average personal income per capita in the state of Minnesota, adjusted for inflation. It is a widely used metric for assessing economic progress and the standard of living within the state.
Methodology
The data is collected and calculated annually by the U.S. Bureau of Economic Analysis.
Historical Context
Trends in per capita personal income are closely monitored by government agencies, economists, and investors to gauge the economic health and purchasing power of Minnesota residents.
Key Facts
- Minnesota's per capita personal income was $63,725 in 2021.
- Minnesota's per capita income is consistently higher than the national average.
- Income growth in Minnesota has outpaced the U.S. in recent decades.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Minnesota measures the average personal income per person in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Trends in per capita personal income are a key indicator of economic well-being and living standards for policymakers, economists, and investors analyzing the Minnesota economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Per capita personal income is closely monitored by government agencies, economists, and investors to gauge the economic health and purchasing power of Minnesota residents.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the current economic conditions.
Related Trends
All Employees: Trade, Transportation, and Utilities in Minnesota
MNTRADN
Gross Domestic Product: Farms (111-112) in Minnesota
MNFARMNGSP
Forestry, Fishing, Related Activities, and Other Earnings in Minnesota
MNEFOR
Chain-Type Quantity Index for Real GDP: Finance and Insurance (52) in Minnesota
MNFININSQGSP
Covered Employment in Minnesota
MNCEMPLOY
Gross Domestic Product: Mining (Except Oil and Gas) (212) in Minnesota
MNMINEXOILGASNGSP
Citation
U.S. Federal Reserve, Per Capita Personal Income in Minnesota (MNPCPI), retrieved from FRED.