Estimated State Median Real Wage Elasticities with respect to the Unemployment Rate, Employment-Population Ratio and Underemployment Rate by Race, 1979-2013 and 1979-2007
| Unemployment Rate | Employment-Population Ratio | Underemployment (1994–2014 only) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1979–2014 | 1979–2007 | 1979–2014 | 1979–2007 | 1994–2014 | 1994–2007 | |||||||
| White | Black | White | Black | White | Black | White | Black | White | Black | White | Black | |
| Real median wage | -0.030 | -0.079 | -0.034 | -0.101 | 0.348 | 0.264 | 0.303 | 0.491 | -0.090 | -0.082 | -0.069 | -0.108 |
| Standard error | 0.007 | 0.020 | 0.008 | 0.024 | 0.043 | 0.141 | 0.052 | 0.183 | 0.007 | 0.023 | 0.008 | 0.032 |
| Number of states | 51 | 25 | 51 | 25 | 51 | 25 | 51 | 25 | 51 | 25 | 51 | 25 |
| N | 1785 | 476 | 1479 | 345 | 1785 | 476 | 1479 | 345 | 1020 | 330 | 714 | 179 |
| Real median wage (AZ, CA, FL, IL, NJ, NM, NY & TX only) | -0.045 | -0.103 | -0.058 | -0.114 | 0.301 | 0.360 | 0.356 | 0.634 | -0.041 | -0.068 | -0.027 | -0.079 |
| Standard error | 0.018 | 0.026 | 0.021 | 0.029 | 0.131 | 0.194 | 0.152 | 0.211 | 0.025 | 0.038 | 0.039 | 0.052 |
| Number of states | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| N | 280 | 276 | 232 | 230 | 280 | 276 | 232 | 230 | 160 | 158 | 112 | 112 |
*Labor market variables are lagged 1 year.
Note: Coefficients in bold are significant at 5% level.
Source: Author's regression analysis of state unemployment and wage data from Current Population Survey.