Aggregate Household Income (In 2008 Inflation Adjusted Dollars) - T065_001 - Aggregate Household Income (In 2008 Inflation Adjusted Dollars) - Social Explorer Tables: ACS 2008 (3-Year Estimates) (SE) - Survey ACS 2008 (3-Year Estimates)

Data Dictionary:

ACS 2008 (3-Year Estimates)

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Survey: ACS 2008 (3-Year Estimates)

Data Source:

Social Explorer; U.S. Census Bureau

Data set: Social Explorer Tables: ACS 2008 (3-Year Estimates) (SE)

Table:

T65. Aggregate Household Income (In 2008 Inflation Adjusted Dollars) [1]

Universe: Households

Variable Details

T65.

Aggregate Household Income (In 2008 Inflation Adjusted Dollars)

Universe: Households

T065_001Aggregate Household Income (In 2008 Inflation Adjusted Dollars)

Percent base:

None - percentages not computed (variable is table universe)

Aggregation method:

Addition

Formula used to compute this variable:

Return_Value = ACS08_3yr:B19025001; if (ACS08_3yr:B19025001.IsNull) Return_Value.IsNull = true

Variables used in the formula:
ACS08_3yr:B19025001	Households: Aggregate Household Income in the Past 12 Months (in 2008 Inflation-Adjusted Dollars)

Relevant Documentation:

Excerpt from:	Social Explorer; U.S. Census Bureau; American Community Survey 2006-2008 Summary File: Technical Documentation.
	ACS 2008-3yr Summary File: Technical Documentation -> Appendix B: Subject Definitions -> Derived Measures -> Aggregate

Aggregate

An aggregate is the sum of the values for each of the elements in the universe. For example, aggregate household income is the sum of the incomes of all households in a given geographic area. Means are derived by dividing the aggregate by the appropriate universe. When an aggregate used as a numerator is rounded in the detailed (base) tables, the rounded value is used for the calculation of the mean.

Excerpt from:	Social Explorer; U.S. Census Bureau; American Community Survey 2006-2008 Summary File: Technical Documentation.
	ACS 2008-3yr Summary File: Technical Documentation -> Appendix B: Subject Definitions -> Population Variables -> Income in the Past 12 Months -> Income of Households

Income of Households

This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one person, average household income is usually less than average family income. Although the household income statistics cover the past 12 months, the characteristics of individuals and the composition of households refer to the time of interview. Thus, the income of the household does not include amounts received by individuals who were members of the household during all or part of the past 12 months if these individuals no longer resided in the household at the time of interview. Similarly, income amounts reported by individuals who did not reside in the household during the past 12 months but who were members of the household at the time of interview are included. However, the composition of most households was the same during the past 12 months as at the time of interview.

Excerpt from:	Social Explorer; U.S. Census Bureau; American Community Survey 2006-2008 Summary File: Technical Documentation.
	ACS 2008-3yr Summary File: Technical Documentation -> Appendix B: Subject Definitions -> Population Variables -> Income in the Past 12 Months -> Adjusting Income for Inflation

Adjusting Income for Inflation

Income components were reported for the 12 months preceding the interview month. Monthly Consumer Price Indices (CPI) factors were used to inflation-adjust these components to a reference calendar year (January through December). For example, a household interviewed in March 2008 reports their income for March 2007 through February 2008. Their income is adjusted to the 2008 reference calendar year by multiplying their reported income by 2008 average annual CPI (January-December 2008) and then dividing by the average CPI for March 2007-February 2008.

In order to inflate income amounts from previous years, the dollar values on individual records are inflated to the latest years dollar values by multiplying by a factor equal to the average annual CPI-U-RS factor for the current year, divided by the average annual CPI-U-RS factor for the earlier/earliest year.