Working Age Population: Males 55-65 - Seas Adj

Source:
Org for Economic Co-operation & Development

Release:
Main Economic Indicators

Units:
Persons, Not Seasonally Adjusted

Frequency:
Monthly

Available Through:
09/30/2021

Why Use:

Working age men aged 55-64 describes the number of men in this age group in the US. This is indicative of population size and demographics.

Suggested Treatment:

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

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Sum.

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Working Age Population: Males 55-65 - Seas Adj

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 2 order differencing is appropriate.

Further differencing is reccommended

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.35 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.90 with a p-value =0.01 indicating the data does not follow a normal distribution.

A skewness score of -0.43 indicates the data are fairly symmetrical.

Hartigan's dip test score of 0.03 with a p-value of 0.99 inidcates the data is unimodal

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

No transform
1.51
Box-cox
1.51
Log_b(x-a)
1.51
sqrt(x+a)
1.51
exp(x)
NA
arcsinh(x)
1.51
Yeo-Johnson
1.52
OrderNorm
1.48

Citation:

Organization for Economic Co-operation and Development, Working Age Population: Aged 55-64: Males for the United States [LFWA55MAUSM647S], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LFWA55MAUSM647S, December 15, 2019.

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