Bea Personal Income Estimates Census Gov

Leo Migdal
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bea personal income estimates census gov

An official website of the United States government Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites. The Bureau of Economic Analysis (BEA) annually produces income estimates for counties and states. The BEA makes estimates of total personal income and of personal income aggregates by source.

We use BEA data in three ways. First, the growth of personal income and the proportion of total income derived from government transfers are used as predictor variables in the model of county median household income. Second, we use the data to categorize counties by growth in personal income per household and use those data for model evaluations. Third, we use the reported SNAP dollar amounts to synthetically split out a small set of SNAP county data that are jointly reported across counties. The definition and inventory of county-level entities change on an irregular basis, based on the decisions of state and local governments. SAIPE provides estimates for all county-level entities (excluding Kalawao, Hawaii) that have been in effect for a full calendar year of American Community Survey sample.

For the 2014 period, substantial changes occurred, affecting county-level entities in the state of Alaska and Virginia. For details of those changes, please refer to the Substantial Changes to Counties and County Equivalent Entities. An official website of the United States government Personal income increased $95.7 billion (0.4 percent at a monthly rate) in August, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI)—personal income less personal current taxes—increased $86.1 billion (0.4 percent) and personal consumption expenditures (PCE) increased $129.2 billion (0.6 percent).

Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $132.9 billion in August. Personal saving was $1.06 trillion in August and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.6 percent. Income that people get from wages and salaries, Social Security and other government benefits, dividends and interest, business ownership, and other sources. These statistics can offer clues to Americans' financial health and future consumer spending. An official website of the United States government In 2023, personal income, in current dollars, increased in 2,814 counties, decreased in 295, and was unchanged in five counties in 2023.

Personal income increased 6.0 percent in the metropolitan portion of the United States and 4.7 percent in the nonmetropolitan portion. Income that people get from wages, proprietors' income, dividends, interest, rents, and government benefits. A person's income is counted in the county, metropolitan statistical area, or other area where they live, even if they work elsewhere. These statistics take one of BEA's primary economic indicators – U.S. personal income – and measure how it is distributed across households. This provides a way to assess how households share in the nation's economic growth.

The statistics build on more than a decade of BEA research by bringing in new sources of data, including demographic surveys, aggregated tax records, and administrative records. The first national prototype statistics were published in 2020 and the first experimental state statistics were published in 2023. BEA produces a distribution of personal income based on the Current Population Survey Annual Social and Economic Supplement (CPS ASEC), a nationally representative annual survey available nine months after the calendar year, augmented with... This exercise bridges the gap between household-level data and national economic statistics. The methodology for distributing personal income allocates income totals from NIPA Table 2.1 across households. This bridges the gap between household-level data and national economic statistics.

Results are adjusted for household size and compiled by income quantile and year. To improve timeliness, BEA has developed an experimental nowcast for 2024 that balances user needs for relevance and accuracy. Machine learning techniques analyze relationships between published annual distributions and current NIPA totals to generate timely estimates at the quintile level. The nowcasting methodology is detailed in BEA Working Paper 2024-6, with an abridged version published in AEA Papers and Proceedings. The following are estimates for shares (2023 and 2024) and growth of personal income (2023-2024) by quintile, as published for 2023 and nowcast for 2024: The growth incidence curve (GIC) provides information about the evolution of income over time.

A downward sloping GIC indicates that lower income households experienced faster growth than high income households. More information in the Growth Incidence Curves section to follow. BEA uses Census Bureau midyear (July 1) resident population estimates for states and counties to calculate per capita personal income estimates. Each new series of data (called vintages) incorporates the latest administrative record data, geographic boundaries, and methodology. Therefore, the entire time series of estimates beginning with the most recent decennial census is revised annually. The 2020 Q1 estimates of State Personal Income were impacted by the response to the spread of COVID-19, as governments issued “stay-at-home” orders.

This led to rapid changes in employment and earnings as businesses switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending. There are several differences between the SIC and NAICS estimates, which may affect the industry estimates as well as the state totals. First, these are two different industry classifications, and as such, industries classified in one sector on SIC may be classified in another sector on NAICS. Second, the data sources and estimation methods used for NAICS may differ from those used to produce the SIC estimates. Finally, the NAICS-based estimates are consistent with national GDP while the SIC-based estimates are consistent with national gross domestic income (GDI). No.

Many years ago, the BEA produced long-term regional projections but this program was discontinued. Prototype estimates for GDP by county were published in 2018. GDP by county will be released annually beginning in December 2019. An official website of the United States government BEA uses Census Bureau midyear (July 1) resident population estimates for states and counties to calculate per capita personal income estimates. Each new series of data (called vintages) incorporates the latest administrative record data, geographic boundaries, and methodology.

Therefore, the entire time series of estimates beginning with the most recent decennial census is revised annually. When Census incorporates data from a new decennial census, it will complete a final revision to population estimates for the years before the new decennial census year to the previous decennial census year. For example, when Census incorporated data from the 2010 decennial census into the midyear resident population estimates, Census revised population data back to 2000, in order to align these years with the 2000 and... The sum of BEA state population totals is less than the national population totals shown in BEA’s NIPA tables because the state population totals do not include military personnel stationed overseas. For more information on Census Bureau midyear population estimates, please see Population and Housing Unit Estimates Tables. /�"�?� ��U�"ȳ��63^���xԑ5C��B:�#��glՂU<�(b������h��Ɂ!� ڍn)�6��O!��j E��{�L��υ+бH_rñJ|�J�����;�;�#�_Sœ�3����"b��bř,��6�+�D��UL�*<2�(�O�d���]�ZTY���WsBs4� �xHye�!�q�����v+�����X]-(�|M0eꑂݑ������R��Y��(^f� �C7şz$T�X�Ix�J�1��5T3��)�Q�k���>Y� @��� 8D�̚���:��ܯ�VT�G �J�ջ�s�*��҂�^x�Z���ɪ'����ŬzW�o��rߋz�2� κ�J�yQ��WZ��^T�R4Y���.�p.1�����A� d�,�.i؛�Y�%j���N����Eq�S���5�֭��9d�i19��]p�WG�C��"��sU�ɔ�YÇ-�Ll ��!��%���dc���� ��r��.i�3��j�pA-"�hw�H\Ѥ5�3��g��g �{���Ӫ�T��Actۤ)��o�(<�Ӄ��� j0��K}.P�@T�T� } ��`w�"5��Je���?�0ɴ^��%M��tVS>�@6�fW� ��"u٬x 5� BS_��?׎���[����f `�%��r8 ډ�Ȋz+����K$3���}$��D�� �֪���0 e�3��U��4�.u�V�m� �Έ��Yj)<�y ��)������Y��#�ƚ� z%V� ��&!(�8P��]� ���`�QB�@�[�O�P^Rkr�1L !D> '��do�@��#1�t'f]�X=�'�}Gy���{@�(�'36Պ�l����8��5!

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