I am trying to calculate the adult education rate, unemployment rate, and poverty rate by GEOID using the 5 year acs PUMS. I plan on using these variables in an analysis for predicting youth disconnection. Ideally I would like to merge these variables to individuals based on their GEOID. I would like to do this for about five states in the north east. I think I figured out how to calculate adult education (degree attainment for adults 25 and older), but I am not sure what the best method is to calculate poverty and unemployment.
To make an accurate poverty rate calculation you need to consider three conditions: cost of a household’s basic needs, pre-tax cash income, and inflation. Also you can try Supplemental Poverty Measure. This way you will be considering several more conditions such as food assistance programs, medical costs, etc. As I learned during my research on the Munich real estate market SPM is the measure that is usually used in Europe to calculate poverty. Calculating unemployment is rather simpler as all you need to do is to divide the number of unemployed people by the total number in the labor force, then multiply by 100.