I am currently working with the pooled ACS 2009-2011 data and I computed hourly wages as follows: I took the variable “INCWAGE”, I divided it by “WKSWORK2” (“WKSWORK1” unluckily is not available for this sample), and then I divided the resulting weekly wage by “UHRSWORK” to obtain the final weekly wage.
I think this procedure is fine (correct me if I am wrong), but I end up with an average hourly wage of around $29/h, which I think is quite high.
Do you have an idea of the reason why I get such a weird result? Is it a problem related to the sample I selected?
Many thanks in advance!