3 ms·
> 1hr of work is >us$5k! Not all GDP is created by work. See https://fred.stlouisfed.org/series/LABSHPSGA156NRUG https://fred.stlouisfed.org/series/LABSHPSGA1
by eru 1y ago
> 1hr of work is >us$5k!
Not all GDP is created by work. See https://fred.stlouisfed.org/series/LABSHPSGA156NRUG https://fred.stlouisfed.org/series/LABSHPSGA156NRUG to learn that our labour share of GDP is roughly 50%.
And, of course, the average hides a lot of information about the distribution.
Though even given all the caveats, your numbers still seem wrong to me. 90kUSD / 200 / 8 ~ 57 USD, not 5kUSD.
- amluto 1y agoI’m guessing the comment you replied to confused 0.06% with 0.06.