Montana.Dept. of Labor And Industry.Research And Analysis Bureau
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Depending on the temperament of the economist, you're likely to receive anything from a disgusted sigh to a patient and knowing grin that says, "Well, it's not quite that simple." Since we at the Research & Analysis Bureau have a vested interest in the humane treatment of economists, we offer the following article to clarify the differences among the various types of income statistics. Because there seems to be an infinite number of ways to measure income, this article will focus on the three t...ypes of income estimates available on www.ourfactsyourfuture.org : BEA Personal Income, Median Household Income, and HUD Median Family Income, But Which Estimate is the Best? Before enumerating the differences among the income estimates, it is important to note that no one estimate is "better" than another. Each program measures income in a different way. For instance, Median Household Income includes single individuals living alone, while Median Family Income includes only households containing at least two related people.
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