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Relationship between Inflation Rate, Unemployment Rate and Wage Level in China Based on Multiple Linear Regression Model

In: Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)

Author

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  • Yingwen Qin

    (Central University of Finance and Economics)

Abstract

Inflation and unemployment rate are both important indicators related to a country’s macroeconomic development. Wage level is an essential factor reflecting the livelihood of a nation’s citizens. This paper adopts the method of multiple linear regression, building an econometric model to investigate the impact of inflation and unemployment rates individually and together on wage levels in China in recent 20 years. The empirical results show that there is a significant positive correlation between the unemployment rate and the average wage. One percent increase in the unemployment rate would double the average wage. There is a slight significant negative correlation between the inflation rate and wage level. It may be due to the fact that the relationship between them is non-linear. Besides, they may be influenced by other economic factors such as the social environment and market competition.

Suggested Citation

  • Yingwen Qin, 2025. "Relationship between Inflation Rate, Unemployment Rate and Wage Level in China Based on Multiple Linear Regression Model," Advances in Economics, Business and Management Research, in: Junfeng Lu (ed.), Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024), pages 221-231, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-652-9_23
    DOI: 10.2991/978-94-6463-652-9_23
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