Real Per Capita Personal Income for Tennessee
TNRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55,861.00
Year-over-Year Change
27.50%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Tennessee measures the average income per person in the state, adjusted for inflation. It is a key indicator of economic well-being and living standards.
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 tracks the real (inflation-adjusted) personal income of Tennessee residents on a per capita basis. It is used by economists and policymakers to assess the state's economic health and residents' purchasing power over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on personal income estimates and population figures.
Historical Context
Real per capita income trends are closely monitored for their implications on consumer spending, tax revenue, and standards of living.
Key Facts
- Tennessee's real per capita personal income was $54,827 in 2021.
- Incomes have grown by over 30% in Tennessee since 2010.
- Per capita incomes in Tennessee are 92% of the national average.
FAQs
Q: What does this economic trend measure?
A: This metric measures the average real (inflation-adjusted) personal income per person in the state of Tennessee.
Q: Why is this trend relevant for users or analysts?
A: Real per capita personal income is a key indicator of economic well-being and living standards in Tennessee. It is closely watched by economists, policymakers, and businesses.
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 estimates and population figures for the state of Tennessee.
Q: How is this trend used in economic policy?
A: Trends in real per capita income are used to assess the economic health of Tennessee and inform policy decisions related to taxation, government spending, and economic development programs.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Tennessee (TNRPIPC), retrieved from FRED.