Support #1568
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Household income components
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Hi - In the User Guide it says "At the household level, w_fihhmnnet1_dv is the net household monthly income. It is the sum of net monthly incomes from all household members (including proxies and within household non-respondents, see w_fimnnet_dv). It can be decomposed into the six subcomponents: net labour income (w_fihhmnlabnet_dv), miscellaneous income (w_fihhmnmisc_dv), private benefit income (w_fihhmnprben_dv), investment income (w_fihhmninv_dv), pension income (w_fihhmnpen_dv), and social benefit income (w_fihhmnsben_dv)." Should then the 6 income components (w_fihhmnlabnet_dv, w_fihhmnmisc_dv, w_fihhmnprben_dv, w_fihhmninv_dv, w_fihhmnpen_dv, w_fihhmnsben_dv) sum to equal w_fihhmnnet1_dv? When using the hhresp file, this only seems to happen for about 80% of households (give or take a few £s difference). The difference for some households is large. I ask as I'm trying to analyse changes in total household income over time and to look at which components of income are causing this change. Thanks for your help. - Matt
Updated by Understanding Society User Support Team over 3 years ago
- Status changed from New to Feedback
- % Done changed from 0 to 80
- Private changed from Yes to No
Thanks for your question. Our income team has had a deeper a look into the issue and can confirm the variables containing household total net income and components are correct, but we have identified a small coding error in the variable fihhmninv_dv. This will be corrected for the wave 11 data release later this year.
In the meantime, you can simply recalculate fihhmninv_dv as total household net income minus the other components of household income. So:
fihhmninv_dv = fihhmnnet1_dv-(fihhmnlabnet_dv+fihhmnmisc_dv+fihhmnprben_dv+fihhmnpen_dv+fihhmnsben_dv))
and this will correct the issue.
Hope this helps and thanks very much for your useful question.
Best wishes,
Understanding Society User Support Team
Updated by Understanding Society User Support Team about 3 years ago
- Status changed from Feedback to Resolved
- % Done changed from 80 to 100