reply on: Wage levels: USA outpaces Europeans \ stacker news ~econ

61 sats \ 6 replies \ @Satosora 22 Apr \ parent \ on: Wage levels: USA outpaces Europeans econ

Fed reports a lot of bs. Over-inflating numbers and under-inflating numbers for their purpose.

But we have to deal with this bs

21 sats \ 4 replies \ @Undisciplined 22 Apr

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.

40 sats \ 2 replies \ @Satosora 22 Apr

Average salary 54k https://www.usatoday.com/money/blueprint/business/hr-payroll/average-salary-us/#:~:text=How%20much%20does%20the%20average,Q4%20of%202023%20was%20%2459%2C384.&text=This%20is%20up%205.4%25%20from,was%20making%20%2456%2C316%20per%20year.

21 sats \ 1 reply \ @Undisciplined 22 Apr

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.