Abstract
Income inequality is a serious social economic issue in many countries. The issue is deteriorated due to the complex social environment and demographic composition in the Unites States. This study focuses on the racial and gender factors which influence workers’ income. And the easy-qualified year of schooling and working-year are chosen as the other two factors. Basing on the Ordinary Least Square (OLS) analysis, the selected factors are qualified to understand their influence degree in income inequality. By comparing the coefficients of the factors, we find the inner relationships between the factors and income inequality. The precise results not only provide a chance for people to examine their income levels, but also help the government to develop fair policies.
Highlights
Income inequality has been a seriously social issue for many years in the United States (US)
The Ordinary Least Square (OLS) regression analysis of both white and black people in the dataset is made to gain the coefficient for the variables (Table 1)
The factor of gender is excluded in this OLS regression
Summary
Income inequality has been a seriously social issue for many years in the United States (US). US is composed of different races come from different countries, such as European, African, Asian [1]. White people get higher incomes than other racial people in average [2]. Some economists believe that it is the racial discrimination causes the gap expansion between poverty and rich. Sometimes even people do the same job and may get unequal payments [3]. The incomes are influenced by many factors like gender, years of schooling, working-years, etc. Even a small difference in some special factors will cause large change in workers’ incomes. It is critical to separately quantify the impact of different influencing factors on income, especially the racial and gender factors
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