Proprietors' Nonfarm Income in North Carolina
NCONON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,985.10
Year-over-Year Change
12.44%
Date Range
1/1/1948 - 1/1/2025
Summary
Proprietors' Nonfarm Income in North Carolina measures the income earned by self-employed individuals in the state's non-agricultural sectors. This metric provides insight into the economic health and entrepreneurial activity in North Carolina.
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
Proprietors' Nonfarm Income represents the total pre-tax business income of individual business owners, partners, and other self-employed persons operating non-farm enterprises in North Carolina. It is a key indicator of small business and independent contractor earnings in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and tax records.
Historical Context
Policymakers and analysts use this metric to assess the business climate and economic dynamism in North Carolina.
Key Facts
- Proprietors' Nonfarm Income in North Carolina totaled $145 billion in 2021.
- Income for North Carolina proprietors has grown by 34% over the past decade.
- Self-employment accounts for over 15% of North Carolina's total personal income.
FAQs
Q: What does this economic trend measure?
A: Proprietors' Nonfarm Income in North Carolina measures the pre-tax business income earned by self-employed individuals in the state's non-agricultural sectors.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the entrepreneurial activity and economic health of small businesses and independent contractors in North Carolina.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and tax records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the business climate and economic dynamism in North Carolina, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a 2-3 month lag and may be subject to revisions by the statistical agency.
Related Trends
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Production or Nonsupervisory Employees: Manufacturing: Non-Durable Goods in North Carolina
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Citation
U.S. Federal Reserve, Proprietors' Nonfarm Income in North Carolina (NCONON), retrieved from FRED.