I recently read about the decreasing gender wage gap for newly graduated college students in an article on the Liberty Street Economics, the blog of the Federal Reserve Bank of New York. In the article, there is a statement that “among recent college graduates, men earn about 3 percent more than women overall” but that the gap “widens significantly as workers approach mid-career”. The article summarizes this mid-career group of individuals, where they find that “men earn about 15 percent more than women.” Being the inquisitive person that I am, I wondered how these statements could be made – what evidence was there supporting these statements? I could have taken the table on their blog and calculated a quick mathematical average using a spreadsheet program. But, the table only included a sub-section of the full data being used and the data was already in statistical summaries instead of original polling numbers. I decided to find some raw data and create some graphs that would allow me to perform some analysis myself.
Much data is available for download and analysis from the US Census Bureau. This data can be downloaded and edited. It can then be used for graphing or mapping in many Golden Software programs. The data can also be used for analysis, such as creating statistics, comparing values, or providing supporting evidence for other statistics. In this case, I thought some simple bar charts for various populations would help support or overthrow the claims of the decreasing gender wage gap in young workers.