Poverty Universe, All Ages for Hancock County, WV
PUAAWV54029A647NCEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,814.00
Year-over-Year Change
-8.01%
Date Range
1/1/1998 - 1/1/2023
Summary
The Poverty Universe, All Ages for Hancock County, WV metric tracks the total population living below the poverty line in this region. This statistic is critical for policymakers and economists to understand local economic conditions and need.
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 metric represents the total number of individuals of all ages living in Hancock County, West Virginia with incomes below the federal poverty threshold. It is an important indicator of economic hardship and well-being in the local area.
Methodology
The data is collected through the U.S. Census Bureau's annual American Community Survey.
Historical Context
Poverty data informs decision-making around social programs, infrastructure investment, and economic development initiatives.
Key Facts
- Hancock County has a population of around 29,000 people.
- The poverty rate in Hancock County is higher than the national average.
- Poverty data is used to allocate federal funding for social services.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total number of individuals of all ages living below the federal poverty line in Hancock County, West Virginia.
Q: Why is this trend relevant for users or analysts?
A: Poverty data is crucial for understanding economic hardship and informing policies and programs to support low-income populations in the local area.
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: Poverty statistics are used by policymakers, economists, and institutions to allocate funding for social services, infrastructure, and economic development initiatives.
Q: Are there update delays or limitations?
A: The poverty data has an approximately one-year delay due to the Census Bureau's data collection and publication process.
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Citation
U.S. Federal Reserve, Poverty Universe, All Ages for Hancock County, WV (PUAAWV54029A647NCEN), retrieved from FRED.