Real Per Capita Personal Income for Wisconsin
WIRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,962.00
Year-over-Year Change
22.65%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Per Capita Personal Income for Wisconsin measures the average inflation-adjusted income per person in the state. It is a key indicator of economic well-being and living standards for policymakers and analysts.
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 represents the total personal income in Wisconsin divided by the state's population, adjusted for inflation. It provides insights into the purchasing power and overall economic conditions experienced by Wisconsin residents.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Trends in real per capita personal income are closely monitored by government officials, economists, and investors to assess the broader economic health of the state.
Key Facts
- Wisconsin's real per capita personal income was $55,798 in 2021.
- This represents a 2.5% increase from the previous year.
- Real per capita personal income in Wisconsin has grown by an average of 1.8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Wisconsin measures the average inflation-adjusted income per person in the state, providing insights into the purchasing power and overall economic conditions experienced by Wisconsin residents.
Q: Why is this trend relevant for users or analysts?
A: Trends in real per capita personal income are closely monitored by government officials, economists, and investors as a key indicator of economic well-being and living standards in the state.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics for the state of Wisconsin.
Q: How is this trend used in economic policy?
A: Policymakers use this trend to assess the broader economic health of Wisconsin and make informed decisions regarding economic development, taxation, and social welfare programs.
Q: Are there update delays or limitations?
A: The data is typically released 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 Wisconsin (WIRPIPC), retrieved from FRED.