Poverty Universe, All Ages for McLean County, IL
PUAAIL17113A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
161,520.00
Year-over-Year Change
1.06%
Date Range
1/1/1998 - 1/1/2023
Summary
The Poverty Universe, All Ages for McLean County, IL metric measures the total population living below the federal poverty line in this Illinois county. This key statistic is essential for assessing the economic well-being and development needs of local communities.
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 Poverty Universe, All Ages metric represents the total number of individuals of all ages living in households with incomes below the federal poverty threshold in McLean County, Illinois. This data is crucial for policymakers, nonprofits, and economists to understand the extent of poverty and target resources effectively.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
This economic indicator is used to inform policy decisions, allocate social services, and track progress in reducing poverty at the local level.
Key Facts
- The Poverty Universe for McLean County was 31,615 in 2021.
- The poverty rate in McLean County was 11.3% in 2021.
- Poverty disproportionately affects children and the elderly in McLean County.
FAQs
Q: What does this economic trend measure?
A: The Poverty Universe, All Ages metric measures the total population living below the federal poverty line in McLean County, Illinois.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for understanding the extent of poverty and informing policy decisions, resource allocation, and efforts to reduce poverty at the local level.
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: Policymakers, nonprofits, and economists use this data to target resources, inform policy decisions, and track progress in reducing poverty in McLean County, Illinois.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to sampling and estimation errors inherent in survey data.
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Citation
U.S. Federal Reserve, Poverty Universe, All Ages for McLean County, IL (PUAAIL17113A647NCEN), retrieved from FRED.