Per Capita Personal Income in Wisconsin
WIPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,586.00
Year-over-Year Change
58.51%
Date Range
1/1/1929 - 1/1/2024
Summary
The Per Capita Personal Income in Wisconsin metric tracks the average income per person in the state. It's a key economic indicator used to assess Wisconsin's standard of living and consumer spending potential.
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
Per capita personal income measures the total personal income in Wisconsin divided by the state's population. It provides insight into the economic well-being and purchasing power of Wisconsin residents.
Methodology
This data is calculated by the U.S. Bureau of Economic Analysis using income tax and household survey information.
Historical Context
Policymakers and businesses monitor this metric to understand Wisconsin's economic conditions and make informed decisions.
Key Facts
- Wisconsin's per capita personal income was $59,267 in 2021.
- Personal income grew 5.4% in Wisconsin from 2020 to 2021.
- Wisconsin's per capita income is above the national average of $63,444.
FAQs
Q: What does this economic trend measure?
A: The Per Capita Personal Income in Wisconsin metric measures the average income per person in the state. It provides insight into the economic well-being and purchasing power of Wisconsin residents.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Wisconsin's standard of living and consumer spending potential, which are important factors for policymakers, businesses, and economic analysts to monitor.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income tax and household survey information.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this metric to understand Wisconsin's economic conditions and make informed decisions about economic development, taxation, and consumer-facing strategies.
Q: Are there update delays or limitations?
A: The data is released annually by the U.S. Bureau of Economic Analysis, with a typical 1-year delay in reporting.
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Citation
U.S. Federal Reserve, Per Capita Personal Income in Wisconsin (WIPCPI), retrieved from FRED.