Poverty Universe, All Ages for Albemarle County, VA
PUAAVA51003A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108,199.00
Year-over-Year Change
15.35%
Date Range
1/1/1998 - 1/1/2023
Summary
The Poverty Universe, All Ages for Albemarle County, VA measures the total number of people living below the poverty line in the county, regardless of age. This data is crucial for policymakers and economists to understand regional poverty levels and trends.
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 economic series tracks the total population living in poverty within Albemarle County, Virginia. The poverty universe includes all individuals, regardless of age, whose household income falls below the federal poverty threshold. This metric provides important insights into the economic well-being and standard of living for the county's residents.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
This poverty metric is used by local governments, social service providers, and economic researchers to inform policy decisions and resource allocation.
Key Facts
- Albemarle County has a population of over 108,000 as of the latest data.
- The poverty rate in Albemarle County is below the national average.
- Poverty levels can vary significantly by age, household composition, and other socioeconomic factors.
FAQs
Q: What does this economic trend measure?
A: The Poverty Universe, All Ages for Albemarle County, VA measures the total number of people living below the federal poverty line in the county, regardless of their age.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the economic well-being and standard of living for Albemarle County's residents, which is crucial information for policymakers, social service providers, and economic researchers.
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 poverty metric is used by local governments, social service providers, and economic researchers to inform policy decisions and resource allocation aimed at addressing poverty and improving economic welfare in the county.
Q: Are there update delays or limitations?
A: The data is published annually, with a delay of approximately one year between the reference period and the release of the estimates.
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Citation
U.S. Federal Reserve, Poverty Universe, All Ages for Albemarle County, VA (PUAAVA51003A647NCEN), retrieved from FRED.