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Per capita median income is what you get when you include retirees, teenagers, those who do not work at all (they will still have some income from welfare/disab
by rsj_hn 4y ago
Per capita median income is what you get when you include retirees, teenagers, those who do not work at all (they will still have some income from welfare/disability/gifts), and other part time workers. It's not a good measure of average employment earnings in an economy in which labor force participation is only 61%.
What you should look at is median earnings of full time workers, which is about $1000 per week, or $52K per year. This does not include benefits - in the U.S. things like healthcare are primarily funded by the employer and retirement is roughly half funded via social security matching contributions, so total compensation would be about 70K/year.
https://www.bls.gov/charts/usual-weekly-earnings/usual-weekly-earnings-over-time-total-men-women.htm https://www.bls.gov/charts/usual-weekly-earnings/usual-weekl...