Part of the Federal Reserve Bank of Kansas City's mission to support, enhance and advance data or computationally intensive research in economics involves helping researchers understand new or complicated datasets. The Kansas City Federal Reserve Data Curation Initiative (KCDC) provides curated information on publicly available datasets used for economic research. Although many important and oft used data are available to the public, using them can be a burden due to tense technical documentation or difficulty compiling the data into a workable form. The KCDC identified datasets that would benefit from thorough data and content curation and devotes necessary resources to enable their ease of use for research and policy objectives.
To that end, we are collecting and contributing information about various datasets used in economics and other social sciences to reduce startup costs and improve efficiency for research and policy analysis. Moreover, we host the data and offer it in an accessible user interface that provides both new and experienced researcher with a streamlined way to download and use the data.
The fundamental framework for this curated content is outlined in the paper, Content Curation for Research: A Framework for Building a Data Museum.
The Current Population Survey (CPS) is a monthly survey of about 60,000 U.S. households. The survey collects labor force characteristics and a variety demographic information from respondents. Designed as a nationally representative survey, the CPS data is the source for many key labor market indicators and the official source of the unemployment rate. The CPS is also used to calculate other labor market statistics including: labor force participation, hours worked, class of worker, industry, occupation, and reasons for unemployment.