High-paid finance jobs are moving outside of big cities

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

It shouldn’t be surprising to see that the average payroll is highly dependent on location. Let’s take the finance industry as an example. As evidenced by the U.S. Census Bureau County Business Patterns data, the average annual payroll by state in 2012 ranged from $48,000 (which is more than twice the annual payroll of someone working full-time for minimum wage) in South Dakota to $140,000 and $146,000 in Connecticut and the District of Columbia respectively. The only state where an even larger number was registered is New York, with an average annual payroll of $190,000.

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What Has the Minimum Wage Done Across Time, and What Does it Have to do With Employment?

R.T. Young

R.T. Young, Ph.D. Business Economics

With minimum wage laws becoming more of a topic in 2013 – and in 2014 as well – here is a review of what the minimum wage has been across states through the years since 1938.

First, some background. The minimum wage was first introduced in the United States at the federal level in 1938 at $0.25 per hour. Since then, the minimum wage has increased 2,800 percent to $7.25 per hour. Interestingly, the 2,800 percent growth rate comes out to a 4.6 percent average annual growth rate, or about one percent faster than average wages have grown over the same period.

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Satisfaction with Life and Happiness in the U.S.

Kristine Barseghyan

Kristine Barseghyan, Ph.D. (ABD) Social Sciences

The phrase “I’d rather cry in a BMW than laugh on a bicycle,” now a catchphrase, belongs to a 20-year-old female contestant on a Chinese game show. For her, like for many of us, sadness in luxury is preferable over happiness in necessity. But when the conditions for happiness are that high, frustration with reality makes people unhappy. China is generally not a very happy nation — it finished in a low 93rd in the World Happiness Report published by the United Nations in September 2013.[i] In contrast, Denmark, which has the second most bicycles per capita (4,500,000 bicycles per 5,560,628 people, 80.1 percent of population cyclists)[ii], is the happiest nation in the world. BMW is not for everyone, but bicycles are.

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The Biggest Killer in Africa

Andrew B. Collier

Andrew B. Collier, Ph.D. Physics

Gorilla Fever

A few weeks ago my wife developed a fever. Many people had colds and the flu at the time, so we were not too concerned. As it was a Friday afternoon, the best treatment seemed to be a quiet weekend of recuperation. She took the normal things: Vitamin C and Aspirin. The fever waxed and waned over the course of the weekend and I persuaded her to take Monday off work. She went to see her doctor, who confirmed that she had a bad case of the flu. The doctor thought that she was also a little anemic, so took blood samples which were sent off for testing.

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What Matters More When it Comes to Moving Between States – Weather or Taxes?

R.T. Young

R.T. Young, Ph.D. Business Economics

Have you ever heard someone say “So and so is moving to Florida for the beautiful weather” or “So and so wants to live in California so he can go to the beach every day?”

These statements indicate that some individuals move because of the weather.

Of course, the weather isn’t the only reason individuals might move to Florida or California.

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Professional services jobs are soaring, making it the fastest-growing industry

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

As we continue to explore the U.S. Census Bureau County Business Patterns data, we take a look at the fastest-growing industries. To visualize the dynamics, we plot the relative change of job numbers from 2000 through 2012. The following figure contains the data for all industries with at least 5 million people employed, starting from 100 percent in 2000.

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The Economic Impacts of New MLS Stadiums

Benjamin Schultz

Benjamin Schultz, Ph.D. Geography

There are very few events that have the ability to bring people together (or to push them apart) quite like sports. Sports franchises have the ability to become the public face for an entire city. As such, big city mayors from Boston to San Francisco are jumping on board to participate in the current boom in the construction of sports-related facilities. According to the Brookings Institution, American cities spent over seven billion dollars on new facilities in the first decade of the 2000s, most of which came from public sources.

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Telling stories through data