Estimated Percent of People of All Ages in Poverty for Minnesota
PPAAMN27000A156NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.20
Year-over-Year Change
-22.03%
Date Range
1/1/1989 - 1/1/2023
Summary
This trend measures the estimated percentage of people of all ages living in poverty in Minnesota. It provides important insights into the economic well-being and social conditions within the state.
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 Estimated Percent of People of All Ages in Poverty for Minnesota is a key economic indicator used to assess the prevalence of poverty and income inequality in the state. It helps policymakers and researchers understand the socioeconomic challenges facing Minnesota residents.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This trend is closely monitored by state and local governments, as well as economic analysts, to inform policy decisions and resource allocation.
Key Facts
- Minnesota's poverty rate was 9.0% in 2021.
- Poverty disproportionately affects certain demographic groups in Minnesota.
- The trend has fluctuated over the past decade, reflecting the state's economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the estimated percentage of people of all ages living in poverty in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the socioeconomic well-being of Minnesota residents and helps inform policy decisions aimed at reducing poverty and income inequality in the state.
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 closely monitored by state and local governments, as well as economic analysts, to inform policy decisions and resource allocation aimed at addressing poverty and promoting economic growth and social welfare in Minnesota.
Q: Are there update delays or limitations?
A: The data is typically released on an annual basis, with some delays in publication due to the survey's collection and processing timelines.
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Citation
U.S. Federal Reserve, Estimated Percent of People of All Ages in Poverty for Minnesota (PPAAMN27000A156NCEN), retrieved from FRED.