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Yup, you're right. The real median personal income in the US, today is $35,977 -> https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/s
by bhupy 6y ago
Yup, you're right. The real median personal income in the US, today is $35,977 -> https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
Unfortunately I'm having a hard time finding the median number of annual hours worked. But using the average hours worked, that puts the median worker at $20/hr.
Obviously not perfect unless we can get the median hours worked.
Also, like other commenters have said, I don't think anyone has ever claimed that the bulk of productivity gains will go equally to the minimum wage as the median wage, since the latter is usually pretty low leverage work in general.
- sixstrings 6y agoIs that net or gross? And assuming 30 days of vacation at 7,5 hours each, are those 225 hours part of the equation? Interesting to see how those numbers aren’t as drastically different from my country as I’d assumed.
- monocasa 6y agoSomeone making $35k isn't getting 30 days of vacation in the US. Maybe 10 days of combined sick days and vacation.
- OscarCunningham 6y ago> Obviously not perfect unless we can get the median hours worked. Even then, the median annual wage divided by the median annual number of hours worked won't necessarily be equal to the median hourly wage.