Local area personal income

Income that is received by, or on behalf of, all persons  who live in the local area. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj), rental income of persons with CCAdj, personal dividend income, personal interest income, and personal current transfer receipts, less contributions for government social insurance. Estimates of local area personal income are presented by the place of residence of the income recipients. All estimates of local area personal income are in current dollars (not adjusted for inflation). Related terms: state personal income, personal income.