Per Capita Personal Income in Missouri
MOPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64,740.00
Year-over-Year Change
61.92%
Date Range
1/1/1929 - 1/1/2024
Summary
Per Capita Personal Income in Missouri measures the average income per person in the state. It is a key economic indicator used to assess the overall standard of living and economic wellbeing of Missouri residents.
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 metric represents the total personal income in Missouri divided by the state's total population. It provides insight into the purchasing power and financial resources available to Missouri households and individuals.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income tax filings and population estimates.
Historical Context
Policymakers and economists monitor per capita personal income to gauge the economic conditions and development in Missouri relative to national trends.
Key Facts
- Missouri's per capita personal income was $54,482 in 2021.
- Missouri's per capita personal income grew by 4.8% from 2020 to 2021.
- Missouri's per capita personal income is lower than the U.S. national average.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Missouri metric measures the average income per person in the state of Missouri. It provides insight into the overall purchasing power and economic wellbeing of Missouri residents.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important economic indicator used by policymakers, economists, and analysts to assess the financial resources and living standards of Missouri's population. It helps contextualize the state's economic performance relative to national trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income tax filings and population estimates for the state of Missouri.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies monitor Missouri's per capita personal income to evaluate the economic conditions and development of the state. This metric informs policy decisions and resource allocation aimed at improving the standard of living and economic wellbeing of Missouri residents.
Q: Are there update delays or limitations?
A: The per capita personal income data for Missouri is typically published with a lag of several months, as it relies on comprehensive income tax and population data. There may also be minor revisions to historical figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Income in Missouri (MOPCPI), retrieved from FRED.