Poverty Universe, All Ages for Luce County, MI
PUAAMI26095A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,203.00
Year-over-Year Change
-3.74%
Date Range
1/1/1998 - 1/1/2023
Summary
The Poverty Universe, All Ages for Luce County, MI metric tracks the number of individuals of all ages living below the poverty line in Luce County, Michigan.
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
This data series provides insights into the economic well-being and standard of living in Luce County, Michigan by measuring the population living in poverty across all age groups. It is a key indicator used by policymakers, researchers, and local governments to assess community needs and inform social programs.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Poverty data is essential for guiding public policies and allocating resources to support economic development and social welfare initiatives.
Key Facts
- Luce County has a population of around 6,300 people.
- The poverty rate in Luce County is higher than the national average.
- Poverty data is used to determine eligibility for government assistance programs.
FAQs
Q: What does this economic trend measure?
A: The Poverty Universe, All Ages for Luce County, MI metric tracks the number of individuals of all ages living below the poverty line in Luce County, Michigan.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for policymakers, researchers, and local governments to assess community needs and inform social programs aimed at supporting economic development and improving the standard of living in Luce County.
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: Poverty data is essential for guiding public policies and allocating resources to support economic development and social welfare initiatives in Luce County and similar communities.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and methodological limitations of the American Community Survey.
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Citation
U.S. Federal Reserve, Poverty Universe, All Ages for Luce County, MI (PUAAMI26095A647NCEN), retrieved from FRED.