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Age and Hourly Wage: How Aging affect Earning
- 1 Boston University, Boston, MA 02215, United States
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Abstract
In an aging society, people need to focus on the consequence of aging in the labor market. This paper aims to uncover the effect of aging on employees’ wages. To excluded the impact of the COVID-19 and inflation started at the beginning of 2020, the study is based on Current Population Survey (CPS) data collected in 2019. The author explored the issue by adopting the change in people’s age and their hourly wage in the US labor market. The study introduced several regression models, and the analysis of the data shows a positive relationship between people’s age and hourly wage. The findings also suggest that, overall, there is a tendency to raise hourly wage when people’s age increase. In addition, the condition of being White, Asian, or married has a positive effect on people's hourly wage, while being Black, female, or disabled tend to have adverse effects on their hourly wage.
Keywords
racism, hourly wage, regression models, labor market
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Cite this article
Li,M. (2023). Age and Hourly Wage: How Aging affect Earning. Advances in Economics, Management and Political Sciences,3,413-422.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅰ
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