90% Confidence Interval Lower Bound of Estimate of People of All Ages in Poverty for Minnesota
PECILBAAMN27000A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
505,940.00
Year-over-Year Change
-16.20%
Date Range
1/1/1989 - 1/1/2023
Summary
This economic trend measures the 90% confidence interval lower bound of the estimated poverty rate for people of all ages in Minnesota. It provides a conservative estimate of the minimum poverty level in the state and is an important indicator for policymakers and researchers analyzing economic well-being.
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 90% confidence interval lower bound represents the lowest plausible value for the Minnesota poverty rate at a 90% level of statistical confidence. This metric helps analysts understand the range of uncertainty around poverty estimates and track changes in economic hardship over time.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is used by government agencies, nonprofits, and researchers to assess the economic conditions in Minnesota and inform social policies.
Key Facts
- The 90% confidence interval lower bound for Minnesota's poverty rate was 9.3% in 2021.
- Poverty estimates help determine eligibility for social assistance programs.
- Tracking poverty trends is crucial for evaluating the effectiveness of economic policies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the 90% confidence interval lower bound of the estimated poverty rate for people of all ages in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a conservative estimate of the minimum poverty level in Minnesota, which is important for understanding economic well-being and informing social policies.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Census Bureau's American Community Survey.
Q: How is this trend used in economic policy?
A: This trend is used by government agencies, nonprofits, and researchers to assess economic conditions in Minnesota and inform social policies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions of the American Community Survey.
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Citation
U.S. Federal Reserve, 90% Confidence Interval Lower Bound of Estimate of People of All Ages in Poverty for Minnesota (PECILBAAMN27000A647NCEN), retrieved from FRED.