61 sats \ 13 replies \ @Satosora 22 Apr \ on: Wage levels: USA outpaces Europeans econ
I dont know.
I dont think the annual wage for an american is 80k.
And even with that amount, a huge amount goes into health care and taxes.
Part of that is selection. During the pandemic a lot of people left the workforce and haven't returned. That was largely people earning below average salaries, so it moved the average up.
I don't think wage growth has been that robust over the past four years.
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But imagine what this did to Europeans...
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Depending on the choices made by the analyst, 77k is not far above what the Fed is reporting.
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That's fine. My point is just that the first chart is right in line with other available data. If you find something counter to it, I'm sure we'd all be interested.
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I think what was misleading on the first graph is that it isn't specific about what the number refers to.
That $54k is only drawn from wage earners. A lot of income in America comes from non-wage sources. That makes $54k a dramatic underestimate of income.
Another thing going on here is that taking the mean, rather than median, of income will give a fairly high seeming value because of the extreme high-earners in the distribution.