Real Per Capita Personal Income: Nonmetropolitan Portion for Tennessee
TNNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,673.00
Year-over-Year Change
20.77%
Date Range
1/1/2008 - 1/1/2023
Summary
The 'Real Per Capita Personal Income: Nonmetropolitan Portion for Tennessee' measures the average inflation-adjusted income of individuals living in non-urban areas of Tennessee. This metric provides important insights into the economic well-being of rural populations.
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 series represents the average personal income in Tennessee's non-metropolitan counties, adjusted for inflation. It is a valuable indicator of the relative prosperity and purchasing power of rural residents compared to their urban counterparts.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and population estimates.
Historical Context
Policymakers and analysts use this metric to inform decisions and assessments related to regional economic development, public program funding, and the relative financial health of rural communities.
Key Facts
- Tennessee's nonmetropolitan per capita personal income was $47,258 in 2021.
- This metric has grown by an average of 2.5% annually over the past decade.
- Rural incomes in Tennessee lag behind the state's metropolitan areas by approximately 15%.
FAQs
Q: What does this economic trend measure?
A: This series represents the average personal income of individuals living in Tennessee's non-urban counties, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the relative economic well-being and purchasing power of rural populations, which is crucial for informing regional development policies and funding decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and population estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial health of rural communities and inform decisions related to regional economic development and public program funding.
Q: Are there update delays or limitations?
A: The data is typically updated annually with a short delay, and may not fully capture short-term fluctuations in rural incomes.
Related Trends
Real Gross Domestic Product: All Industry Total in Tennessee
TNRQGSP
Unemployment Rate in Tennessee
TNUR
Administrative and Waste Services Wages and Salaries in Tennessee
TNWADM
Real Gross Domestic Product: Private Services-Providing Industries in Tennessee
TNPRISERVPRORGSP
Gross Domestic Product: Arts, Entertainment, and Recreation (71) in Tennessee
TNARTENTRECNGSP
Gross Domestic Product: Retail Trade (44-45) in Tennessee
TNRETAILNGSP
Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Tennessee (TNNMPRPIPC), retrieved from FRED.