Wage -> Wage rate (dollars earned per hour)
EXPER -> Work experience - number of years of work
EDUC -> number of years of education
HOURWAGE provides the wage rate for persons paid hourly, but only for those respondents who are included in the ‘earners study’. Please see the HOURWAGE variable documentation for more details. Researchers sometimes calculate hourly wage for others using annual earnings, weeks worked, and usual weekly hours worked. These variables can be found Person–>Income and Person–> Work menus.
There is no direction measure of experience the CPS, but many researchers choose to proxy for experience using age (AGE) and education (EDUC).
A direct measure of years of schooling doesn’t exist, either, but some researchers construct such a measure using EDUC.