Data - Yuan-032/Econometrics_pre GitHub Wiki

Our data has come from multiple sources. Our minimum wage data came from Kaggle(https://www.kaggle.com/lislejoem/us-minimum-wage-by-state-from-1968-to-2017), who stripped it from the United States Department of Labor. This data broke down the minimum wage by the state every year from 1968 to 2020. The dataset contains the state minimum wage, federal minimum wage, and effective minimum wage. In this project, we choose the effective minimum wage in 2020 dollars as our dependent variable. The effective minimum wage is the higher of the state minimum wage and the federal minimum wage for each year. The second dataset is the average annual unemployment rates by the state which is collected by the U.S. Bureau of Labor Statistics. Before applying the regression into the data, we make data processing and cleaning beforehand. We compile two datasets into one table which contains the data from 1980 to 2018.

[The plot of the data will show up here]