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Fair Labor Standards Act of 1938

A federal law that sets minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments.

Metropolitan Statistical Area (MSA)

A geographic area defined by the government for statistical purposes, typically centered around a large city, including its surrounding communities that are closely linked economically.

Nonmetropolitan Portion

Any geographic area (county or part of a county) that is not included within a metropolitan statistical area, generally referring to rural or less densely populated regions.

Regional Price Parity (RPP)

A measure of the relative cost of goods and services in a specific geographic area compared to the national average, indicating how much more or less expensive it is to live there.

Bureau of Labor Statistics (BLS)

A government agency that collects and analyzes data related to the economy and labor market, such as employment, unemployment, and wages.

Bureau of Economic Analysis (BEA)

A government agency that produces economic accounts statistics, including regional economic data like regional price parities.