Real Per Capita Personal Income: Nonmetropolitan Portion for South Dakota
SDNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64,829.00
Year-over-Year Change
18.36%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Nonmetropolitan Portion for South Dakota measures the inflation-adjusted personal income per person in the state's rural areas. This statistic is important for economists and policymakers to understand regional economic disparities and guide targeted development efforts.
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 indicator represents the average real personal income of individuals living outside of metropolitan areas in South Dakota. It is used to analyze trends in rural prosperity and inform policies aimed at supporting non-urban communities.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and population statistics.
Historical Context
Trends in this metric can inform decisions around rural infrastructure, workforce development, and equitable economic growth strategies.
Key Facts
- South Dakota's nonmetropolitan per capita income was $49,206 in 2021.
- This metric has grown by 18% over the past decade in inflation-adjusted terms.
- Rural incomes in South Dakota are approximately 85% of metro-area incomes.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average real personal income per person living in non-metropolitan areas of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: Tracking nonmetropolitan personal income is important for understanding regional economic disparities and informing policies to support rural communities.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and population statistics.
Q: How is this trend used in economic policy?
A: Trends in this metric can inform decisions around rural infrastructure, workforce development, and equitable economic growth strategies.
Q: Are there update delays or limitations?
A: This data is released annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for South Dakota (SDNMPRPIPC), retrieved from FRED.