Real Per Capita Personal Income for Rhode Island
RIRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,329.00
Year-over-Year Change
17.80%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Rhode Island measures the average real (inflation-adjusted) income per person in the state. It is a key indicator of economic well-being and standard of living.
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 real personal income in Rhode Island divided by the state's population. It is used by economists and policymakers to analyze trends in household purchasing power and the overall economic health of the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on personal income and population estimates.
Historical Context
Trends in real per capita personal income inform state-level economic and social policies.
Key Facts
- Rhode Island's real per capita personal income was $59,462 in 2021.
- The state's real per capita personal income has grown by 25% over the past decade.
- Rhode Island's real per capita personal income is 95% of the national average.
FAQs
Q: What does this economic trend measure?
A: Real Per Capita Personal Income for Rhode Island measures the average real (inflation-adjusted) income per person in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and living standards in Rhode Island, informing policy decisions and economic analysis.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on personal income and population estimates.
Q: How is this trend used in economic policy?
A: Trends in real per capita personal income inform state-level economic and social policies in Rhode Island.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Rhode Island (RIRPIPC), retrieved from FRED.