By Economics Editor
The Systems Scientist previously reported that Asians as a group not only had the lowest unemployment rate for the month of June, 2016, but they also had the lowest unemployment rate for the first quarter 2015 and the first quarter 2016 along with the lowest unemployment rate for the most part since 2007.
Adding to this economic profile, the Pew Research Center recently published data on median hourly earnings. According to the nonpartisan fact tank, Asian men had the highest median hourly earnings of both men and women, and of any racial group surveyed.
As the data clearly shows, Asian men had a median hourly earning of $24; that is, $3 more than white men, $9 more than black men, and $10 more than Hispanic men. Asian men also earned $6 more than Asian women, $7 more than white women, $11 more than black men, and $12 more than Hispanic women.
As for median hourly earnings for women, Asian women earned the most with $18 – $1 more than white women, $5 more than black women, and $6 more than Hispanic women.
When the Pew Research Center controlled for education, Asian men still earned the most of either gender or any race studied. With a bachelor’s degree or higher, the median hourly earnings of Asian men were $35. This was $3 more than white men, $9 more than Hispanic men, and $10 more than black men.
As for median hourly earnings for women with a bachelor’s degree or higher, Asian women earned the most with $27. This was $2 more than white women, $4 more than black women, and $5 more than Hispanic women. In addition, Asian women had a higher median hourly earning than black and Hispanic men.
Why might these differences in earnings exist? As the Pew Research Center explains
Research shows that a majority of each of these gaps can be explained by differences in education, labor force experience, occupation or industry and other measurable factors.
Probably not something most people expected to read.
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Categories: Economic News