Per Capita Personal Income in Mississippi
MSPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,017.00
Year-over-Year Change
55.55%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Mississippi metric tracks the average income per person in the state. It's a key indicator of economic well-being and standard of living.
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
Per Capita Personal Income in Mississippi represents the total personal income in the state divided by the population. It's used by economists and policymakers to assess economic conditions and make informed decisions.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records.
Historical Context
This metric is closely watched by government agencies, businesses, and researchers to understand regional economic trends.
Key Facts
- Mississippi has one of the lowest per capita personal incomes in the U.S.
- The metric has grown steadily over the past decade but remains below the national average.
- Variation in per capita income reflects differences in employment, industry mix, and cost of living across states.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Mississippi metric measures the average income per person in the state. It includes all sources of personal income, such as wages, salaries, dividends, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and standard of living in Mississippi. It's closely watched by policymakers, businesses, and researchers to understand regional economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and administrative records. Per capita personal income is calculated by dividing the total personal income in the state by the total population.
Q: How is this trend used in economic policy?
A: Policymakers and government agencies use this metric to assess the economic well-being of Mississippi residents and make informed decisions about programs, investments, and policies that can impact standard of living and economic growth.
Q: Are there update delays or limitations?
A: The Per Capita Personal Income in Mississippi data is updated quarterly by the U.S. Bureau of Economic Analysis. There may be a delay of several months between the end of the reported period and the data release.
Related Trends
State Government Tax Collections, Total License Taxes in Mississippi
MSTLLICTAX
Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in Mississippi
MSNDURMANNGSP
Average Hourly Earnings of All Employees: Financial Activities in Mississippi
SMU28000005500000003A
State Government Tax Collections, Total Sales and Gross Receipts Taxes in Mississippi
MSSLGRTAX
Gross Domestic Product: All Industry Total in Mississippi
MSNGSP
Average Weekly Hours of All Employees: Manufacturing in Mississippi
SMU28000003000000002
Citation
U.S. Federal Reserve, Per Capita Personal Income in Mississippi (MSPCPI), retrieved from FRED.