I need to build a gross annual labor income variable and a gross weekly labor income variable. These should be comparable with Nomis annual survey of hours and earnings by geographic districts.
Is this possible?
How do I take into account the different sources of income in Understanding Society?
Should I consider fimnlabgrs_dv and multiply it by 12?
Nomis has only weekly or annual measures
#1 Updated by Victoria Nolan over 3 years ago
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Many thanks for your enquiry. I have paassed this on to our income team who are looking into it for you.
Best wishes, Victoria.
On behalf of the Understanding Society data user support team
#2 Updated by Victoria Nolan over 3 years ago
- Status changed from In Progress to Feedback
- Assignee changed from Victoria Nolan to gloria gennaro
- % Done changed from 10 to 90
The Understanding Society measure of labour income is a current measure. It asks for the “usual” amounts of labour income for those that did paid work last week (we convert this to a monthly equivalent). Multiplying this by 12 to get an annual estimate assumes that an individual’s earnings and employment status does not change throughout the year – but clearly some groups do have volatile incomes – so be careful here.
The relevant variables are:
w_inc1lab – net monthly personal
w_fimnlabgrs_dv –gross monthly personal
You asked “How do I take into account the different sources of income in Understanding Society?”. We produce total individual income variables that go beyond a measure of labour income to also include state benefits, unearned income and investment income. These are:
w_fimngrs_dv -Gross monthly personal income
w_netinc1 –net monthly personal income
For more details consult the Understanding Society User Guide starting page 88. https://www.understandingsociety.ac.uk/documentation/mainstage
Best wishes, Victoria
On behalf of the Understanding Society Data User Support Team