Households Below Average Income
Encyclopedia
Households below average income is an annual publication on poverty
statistics
in the United Kingdom. The data is based on the Family Resources Survey
.
Poverty is defined as having an equivalised household income
below the 60% median
line.
Poverty
Poverty is the lack of a certain amount of material possessions or money. Absolute poverty or destitution is inability to afford basic human needs, which commonly includes clean and fresh water, nutrition, health care, education, clothing and shelter. About 1.7 billion people are estimated to live...
statistics
Statistics
Statistics is the study of the collection, organization, analysis, and interpretation of data. It deals with all aspects of this, including the planning of data collection in terms of the design of surveys and experiments....
in the United Kingdom. The data is based on the Family Resources Survey
Family Resources Survey
The Family Resources Survey is a survey carried out by the Office for National Statistics and the National Centre for Social Research on an annual basis, collecting information on the incomes and circumstances of private households in Great Britain...
.
Poverty is defined as having an equivalised household income
Income
Income is the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings...
below the 60% median
Median
In probability theory and statistics, a median is described as the numerical value separating the higher half of a sample, a population, or a probability distribution, from the lower half. The median of a finite list of numbers can be found by arranging all the observations from lowest value to...
line.