Poverty Universe, All Ages for Galax City, VA
PUAAVA51640A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,475.00
Year-over-Year Change
-3.14%
Date Range
1/1/1998 - 1/1/2023
Summary
The Poverty Universe, All Ages for Galax City, VA measures the total population living below the poverty line in this specific geographic area. This indicator is crucial for policymakers and economists to understand the economic well-being and social dynamics of the local community.
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 series represents the total number of individuals of all ages living in households with income below the federal poverty threshold in Galax City, Virginia. It is an important metric for analyzing regional poverty levels and informing social programs and economic development initiatives.
Methodology
The data is collected through the U.S. Census Bureau's American Community Survey.
Historical Context
Poverty data is used by government agencies, nonprofits, and researchers to allocate resources, evaluate policy effectiveness, and identify areas of need.
Key Facts
- Galax City has a population of around 6,700 as of the latest Census.
- The poverty rate in Galax City is significantly higher than the national average.
- Poverty data helps target social programs and community development initiatives.
FAQs
Q: What does this economic trend measure?
A: The Poverty Universe, All Ages for Galax City, VA measures the total number of individuals living in households with income below the federal poverty threshold in this specific geographic area.
Q: Why is this trend relevant for users or analysts?
A: This poverty data is crucial for policymakers, nonprofits, and researchers to understand the economic well-being and social dynamics of the local community, and to inform the allocation of resources and the evaluation of social programs.
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 used by government agencies, nonprofits, and researchers to allocate resources, evaluate policy effectiveness, and identify areas of need for social programs and economic development initiatives.
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 Galax City, VA (PUAAVA51640A647NCEN), retrieved from FRED.