Quelque Regressions pour vous.
Below are some regressions that people can use if they wish. This is the product of some research I've been doing these past few months.
The above is the effect of real GDP (rGDP), real non-Labor Income (rIncome), the Labor Force Participation Rate (LFPR), and Unemployment (Unemployment) on the Aggregate Wages of the United States.
The Estimate column represents the change in Aggregate Wages due to a change in the associated exogenous variable.
So, if Real GDP increases by one billion dollars, aggregate wages increases by $624,804,000.
If Non-Labor Income (the real figure, not the nominal one) increases by one billions, there is a decrease in aggregate wages of $367,5732,000. This is due to people being coaxed out of the labor market, I believe.
The Labor Force Participation Rate has no statistically significant effect on the Aggregate wages (that is what the stars on the side mean) and this is because each time some one enters the labor market, yes they earn more, but they also depress wages and so undo their contribution.
If Unemployment increases by one percent, then Aggregate Wages (also a real figure) falls by Eighteen Billion dollars! Damn.
An increase of one billion dollars to real GDP causes the median weekly take home earnings of a worker to go up by four cents.
An increase of non-Labor Income by one billions dollars causes the median weekly take-home earnings of a worker to fall by a nickel.
A one percent increase in the Labor Force Participation Rate causes the median weekly take home earnings of a worker to fall by $2.30.
Unemployment is not affecting these paychecks because the unemployed do not collect paychecks.
All dollar figures are in 1984 dollars. The data used was taken from the Federal Reserve Economic Database. Regressions run in R. Data collected spans from the first quarter of 1979 to the first quarter of 2018.