Real Personal Income for Wisconsin
WIRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
342,612.80
Year-over-Year Change
26.90%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income for Wisconsin metric measures the total inflation-adjusted personal income of residents in the state of Wisconsin. This key economic indicator provides insights into the purchasing power and overall financial well-being of Wisconsin's population.
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
Real Personal Income for Wisconsin represents the total personal income of individuals living in the state, adjusted for inflation. It is a widely used measure of economic prosperity and standard of living within a specific geographic region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and consumer price index statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and market analysts to assess the economic conditions and consumer spending power in Wisconsin.
Key Facts
- Wisconsin's real personal income has grown by 12% over the past decade.
- Per capita real personal income in Wisconsin is $55,000, higher than the national average.
- Consumer spending accounts for over 60% of Wisconsin's real personal income.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income for Wisconsin metric measures the total inflation-adjusted personal income of residents in the state of Wisconsin.
Q: Why is this trend relevant for users or analysts?
A: This key economic indicator provides insights into the purchasing power and overall financial well-being of Wisconsin's population, which is useful for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and consumer price index statistics.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and market analysts to assess the economic conditions and consumer spending power in Wisconsin.
Q: Are there update delays or limitations?
A: The Real Personal Income for Wisconsin data is typically released on a quarterly basis with a slight delay, but it provides a comprehensive and reliable measure of the state's economic performance.
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Citation
U.S. Federal Reserve, Real Personal Income for Wisconsin (WIRPI), retrieved from FRED.