Real Per Capita Personal Income for Utah
UTRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,100.00
Year-over-Year Change
52.57%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Utah measures the inflation-adjusted average income per person in the state. It is a key indicator of economic well-being and purchasing power for Utah residents.
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 tracks the real (inflation-adjusted) personal income per capita in Utah. It is a comprehensive measure of the overall economic condition and standard of living in the state, factoring in both total income and population changes.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and population figures.
Historical Context
Policymakers and economists use this trend to analyze Utah's economic performance and make informed decisions.
Key Facts
- Utah's real per capita personal income reached a high of $53,700 in 2021.
- The trend has grown by over 30% since 2000, outpacing the national average.
- Real per capita income in Utah is consistently higher than the U.S. overall.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Utah measures the average 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 purchasing power for Utah residents, making it relevant for policymakers, economists, and the general public.
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 figures.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to analyze Utah's economic performance and make informed decisions about the state's policies and programs.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of a few months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Utah (UTRPIPC), retrieved from FRED.