Real Per Capita Personal Income for Ohio
OHRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,626.00
Year-over-Year Change
22.14%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Ohio measures the average personal income per person in the state, adjusted for inflation. This metric is important for economists and policymakers to assess the purchasing power and standard of living of Ohio residents over time.
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
Real Per Capita Personal Income represents the total personal income earned by Ohioans divided by the state's population, with the income figure adjusted for price changes. It provides insight into the overall economic well-being and growth of the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and state population figures.
Historical Context
This trend is widely used to evaluate Ohio's economic performance and inform state-level policy decisions.
Key Facts
- Ohio's real per capita personal income was $54,827 in 2021.
- This metric has grown by 18% over the past decade in Ohio.
- The U.S. average real per capita personal income was $63,444 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Ohio measures the average personal income earned per person in the state, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the overall economic well-being and purchasing power of Ohio residents, which is useful for policymakers and analysts evaluating the state's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and state population figures.
Q: How is this trend used in economic policy?
A: Real per capita personal income is widely used to evaluate Ohio's economic conditions and inform state-level policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months by the Bureau of Economic Analysis.
Related Trends
Monthly State Retail Sales: Clothing and Clothing Accessories Stores in Ohio
MSRSOH448
Business Applications from Corporations: Total for All NAICS in Ohio
BACBATOTALNSAOH
All Employees: Health Care: Hospitals in Ohio
SMU39000006562200001A
Average Weekly Earnings of Production Employees: Retail Trade in Ohio
SMU39000004200000030A
Coefficient for Transportation Carbon Dioxide Emissions, Residual Fuel for Ohio
EMISSCO2CRFACBOHA
Average Hourly Earnings of Production Employees: Construction in Ohio
SMU39000002000000008A
Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Ohio (OHRPIPC), retrieved from FRED.