Total Wages and Salaries by State

Source:
U.S. Bureau of Labor Statistics

Release:
Employment Situation

Units:
Thousands of Dollars, Seasonally Adjusted Annual Rate

Frequency:
Quarterly

Available Through:
06/30/2021

Why Use:

Total wages and salaries for each US state measures the sum of money paid to employees in that state over the past 3 months. This is indicative of hourly wage rates, economic health, cost of living, and rural vs urban demographics.

Suggested Treatment:

The data shows autocorrection and a non-normal distribution. The data should be differenced. While the Yeo Johnson transformation, provides the best normality, the Arcsin variable will also perform well.

Grain Transformation:

Data is able to be distributed by time but not by geography. The roll up method used is Sum.

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Total Wages and Salaries by State

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion

Autocorrectation Analysis:

Data shows autocorrectation indicating a need for differencing

The ACF indicates 1 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.04

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.12 p-value = 0.10 indicates that the data is stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.93 with a p-value =0.05 indicating the data follows a normal distribution.

A skewness score of -0.01 indicates the data are fairly symmetrical.

Hartigan's dip test score of 0.06 with a p-value of 0.63 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
1.44
Box-cox
NA
Log_b(x-a)
1.44
sqrt(x+a)
1.44
exp(x)
NA
arcsinh(x)
1.44
Yeo-Johnson
1.39
OrderNorm
1.65

Data Notes:

The following states do not report for this feature: District of Columbia, Puerto Rico.

Citation:

Federal Reserve Bank of St. Louis and U.S. Bureau of Economic Analysis, Total Wages and Salaries, retrieved from FRED, Federal Reserve Bank of St. Louis; January 27, 2020.

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