Real Personal Income: Nonmetropolitan Portion for Rhode Island
RINMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Nonmetropolitan Portion for Rhode Island tracks the inflation-adjusted personal income of residents in non-metro areas of the state. This metric is important for understanding regional economic disparities and informing policy decisions.
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 measures the purchasing power of personal income for individuals living outside of metropolitan areas in Rhode Island. It provides insight into the economic well-being of rural populations, which is a key consideration for policymakers focused on equitable development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and regional price parities.
Historical Context
Trends in nonmetropolitan personal income are closely monitored by economists and policymakers to assess the relative prosperity of rural communities.
Key Facts
- Rhode Island's nonmetropolitan personal income was $51,373 in 2021.
- This metric has grown by 13.5% over the past decade.
- Nonmetro incomes in Rhode Island lag behind the statewide average by around 15%.
FAQs
Q: What does this economic trend measure?
A: This series tracks the inflation-adjusted personal income of residents in non-metropolitan areas of Rhode Island. It provides insight into the economic well-being of rural populations in the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in nonmetropolitan personal income are closely watched by economists and policymakers to assess regional economic disparities and inform decisions around equitable development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and regional price parities.
Q: How is this trend used in economic policy?
A: Nonmetropolitan personal income is a key metric for evaluating the relative prosperity of rural communities and informing policy decisions around economic development and social welfare programs.
Q: Are there update delays or limitations?
A: The data is released annually by the Bureau of Economic Analysis with a lag of around one year.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Rhode Island (RINMPRPI), retrieved from FRED.