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Historical US Compensation and Productivity
Data Science and Analytics
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About
This dataset offers valuable insights into the productivity and hourly compensation trends observed in the United States over a significant period, from 1948 to 2021. It encompasses data on overall compensation, as well as specific compensation figures for production and nonsupervisory workers. This resource is ideal for understanding long-term economic shifts and labour market dynamics.
Columns
- year: Represents the year of the data observation. (Type: Integer)
- net_productivity_per_hour_worked: Measures productivity per hour worked, presented as a net value. (Type: Float)
- average_compensation_of_production_and_nonsupervisory_workers: Shows the average compensation specifically for production and nonsupervisory workers. (Type: Float)
- average_compensation: Indicates the overall average compensation across all worker types. (Type: Float)
- median_compensation: Provides the overall median compensation. (Type: Float)
- men_median_compensation: Represents the median compensation specifically for men. (Type: Float)
- women_median_compensation: Represents the median compensation specifically for women. (Type: Float)
Distribution
The dataset is provided in a CSV format, typical for data files, and is named
productivity_n_hourly_compensation.csv. It has a file size of approximately 2.8 kB and consists of 7 columns. The dataset contains 74 annual observations for year, net_productivity_per_hour_worked, average_compensation_of_production_and_nonsupervisory_workers, and average_compensation. For median_compensation, men_median_compensation, and women_median_compensation, there are 49 valid observations, with 25 records missing.Usage
This dataset is well-suited for various analytical tasks and applications, including:
- Analysing the correlation between productivity growth and compensation trends.
- Investigating the gender pay gap by comparing median compensation figures between men and women.
- Studying the impact of economic recessions on productivity and compensation patterns.
- Comparing hourly wages between production and nonsupervisory workers against the overall average.
- Visualising the long-term trends and fluctuations in productivity and compensation.
- Determining whether increases in productivity have resulted in proportional increases in compensation.
- Analysing how compensation growth has varied across different decades.
Coverage
The dataset's scope is primarily geographic to the United States. It spans a time range from 1948 to 2021, offering a historical perspective on economic trends. Demographically, it covers overall compensation, compensation specifically for production and nonsupervisory workers, and median compensation broken down by gender (men and women). It is important to note that the median compensation data for men, women, and overall has 25 missing values, meaning only 49 out of 74 years have data for these specific columns.
License
CC0: Public Domain
Who Can Use It
This dataset is invaluable for a diverse range of users, including:
- Researchers and Academics: To conduct in-depth studies on economic history, labour economics, and societal inequalities.
- Data Analysts and Scientists: To build models, perform statistical analysis, and create visualisations illustrating economic trends.
- Policy Makers and Economists: To inform policy decisions related to wages, productivity, and social welfare.
- Students: For educational purposes, projects, and learning about real-world economic data analysis. Typical use cases involve understanding wage gaps, evaluating the fairness of compensation growth relative to productivity, and identifying impacts of major economic events.
Dataset Name Suggestions
- US Productivity and Hourly Compensation (1948-2021)
- United States Labour Productivity & Wages
- American Economic Productivity & Compensation
- Historical US Compensation and Productivity
- USA Worker Productivity Data
Attributes
Original Data Source: Historical US Compensation and Productivity
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