Saturday, June 14, 2014

Where's the Money?

"I’m [JB] working on a longer-term wage project and made the figure below as part of it.  It’s from a principle components analysis of five different and pretty diverse, compensation/wage series:
Employment Cost Index: Hourly Compensation
Employment Cost Index: Hourly Wages
Productivity Series: Hourly Compensation
Median Weekly Earnings, Full-time Workers
Average Hourly Earnings, Production, Non-Supervisory Workers
The plot shows the first principal component of the five series–a technique to summarize a bunch of related data series in a way that pulls out their common signal..."

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