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Q: Average working wage ( Answered 5 out of 5 stars,   3 Comments )
Subject: Average working wage
Category: Business and Money > Economics
Asked by: eclectrician-ga
List Price: $4.00
Posted: 06 Aug 2006 14:56 PDT
Expires: 05 Sep 2006 14:56 PDT
Question ID: 753200
If all wages made in the USA were split evenly between every adult
American what would this average wage be?  Also, what about a world
average wage?
Subject: Re: Average working wage
Answered By: scriptor-ga on 06 Aug 2006 16:57 PDT
Rated:5 out of 5 stars
Dear eclectrician,

Here is what I was able to fing out:

- Total amount of wages paid in the USA in 2005 (preliminary data): $

- Total US population of 18 years and over on 1 July 2005: 222,940,420

If the 5.35 billiards were divided up equally among the entire adult
population (workers and non-workers) of the USA, every adult person
would get a share of $ 24,006.9464 for the year 2005.

Unfortunately, it is not possible to make a similar calculation
relating to the entire world due to the lack of data. Not even the
United Nations, the World Bank or one of their suborganizations, which
are collecting huge amounts of statistical data, have information on
how much wages are paid worldwide.

However, in the data collections of the World Bank I found data about
the approximate 2004 worldwide gross income per capita which is $ 6987
according to their calculation methods. It is not exactly what you are
looking for, but maybe that information will be of use for you.



U.S. Department of Labor, Bureau of Labor Statistics: Quarterly Survey
of Employment and Wages

U.S. Census Bureau: National Population Datasets

World Bank: GNI per Capita 2005, Atlas Method and PPP
eclectrician-ga rated this answer:5 out of 5 stars
Great answer!  Thank you very much.

Subject: Re: Average working wage
From: jack_of_few_trades-ga on 07 Aug 2006 05:25 PDT
US GDP is $12.36 trillion (as of 2005).
US Population 15 and older (I know that is not exactly what you want)
is 237 million.
That is $52,372 per adult (15 and over).

World GDP is $60.71 tillion.
World Population 15 and older is 4,736 million.
That is $12,819 per adult (15 and over).

Data from the CIA World Factbook (using purchasing power parity):
Subject: Re: Average working wage
From: neilzero-ga on 17 Aug 2006 16:17 PDT
Hi jack: Only about half of the GDP = gross domestic product is wages,
even if you stretch the definition of wages. If we award the inept
equally with the shakers and movers, we will discover many of the
later are over cautious especially if we punish them for bad short
term performance. This could easily halve the GDP. Socialism and
communism don't work well, and typically lots of ceating occurs,
besides poverty for up to 99% of the population.   Neil
Subject: Re: Average working wage
From: jack_of_few_trades-ga on 18 Aug 2006 04:53 PDT
Thanks for the "wage" clarification.  I figured in this question that
GDP as a whole would matter more than wages because someone in the US
sees the benefit of the GDP in one form or another (and same goes for
every country).  I should have stuck to wages though since that was
the official question.

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