Estimate of People of All Ages in Poverty in Illinois
PEAAIL17000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,424,894.00
Year-over-Year Change
-23.86%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the estimated number of people of all ages living in poverty in the state of Illinois. Tracking poverty levels is crucial for policymakers to understand economic hardship and allocate social services effectively.
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
The Estimate of People of All Ages in Poverty in Illinois is a key indicator of economic well-being and income inequality within the state. It provides insights into the extent and distribution of poverty, which informs social programs and policy decisions.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This trend is widely used by economists, government agencies, and non-profits to assess the effectiveness of anti-poverty initiatives and guide resource allocation.
Key Facts
- Illinois had an estimated 1.5 million people in poverty in 2021.
- The poverty rate in Illinois was 11.5% in 2021, slightly below the national average.
- Poverty levels in Illinois have remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the estimated number of people of all ages living in poverty in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: Tracking poverty levels is crucial for policymakers to understand economic hardship and allocate social services effectively.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's annual American Community Survey.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, government agencies, and non-profits to assess the effectiveness of anti-poverty initiatives and guide resource allocation.
Q: Are there update delays or limitations?
A: The data is released annually, and there may be a 1-2 year delay in the most recent figures.
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Citation
U.S. Federal Reserve, Estimate of People of All Ages in Poverty in Illinois (PEAAIL17000A647NCEN), retrieved from FRED.