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National average salary

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(December 2024) (Learn how and when to remove this message)
National average and median salary in theUnited States from 1990 to 2024 in thousands of dollars

Thenational average salary (ornational average wage) is themeansalary for the workingpopulation of a nation. It is calculated bysumming all the annual salaries of all persons in work (surveyed) anddividing the total by the number of workers (surveyed).[1] It is not the same as theGross domestic product (GDP)per capita, which is calculated by dividing the GDP by the total population of a country, including theunemployed and those not in theworkforce (e.g. retired people, children, students, etc.).[citation needed] It can be useful in understanding economic conditions, and to employers and employees in negotiating salaries.[1] The nationalmedian salary is usually significantly less than the national average salary because the distribution of workers by salary isskewed.[2]

Examples of usage

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  • TheUnited States Social Security Administration calculates a "national average wage index", used to index past wages of workers by multiplying them by the ratio of the current wage index to the wage index at the time the wages were earned, for the purposes of benefit calculations. The wage index is updated every year by multiplying it by the percentage the US national average wage has changed that year.[3]

Statistics

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See also

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References

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  1. ^ab"What Is the Meaning of Average Salary?".Chron. 2013-04-12. Retrieved2024-12-02.
  2. ^SueKunkel."Average wages, median wages, and wage dispersion".www.ssa.gov. Retrieved2024-12-02.
  3. ^"National Average Wage Index".United States Social Security Administration. Retrieved2024-12-02.
Classifications
Hiring
Roles
Working class
Career andtraining
Attendance
Schedules
Wages andsalaries
Benefits
Taxes
Safety and health
Equal opportunity
Infractions
Willingness
Termination
Unemployment
Public programs
See also
Economic classification of countries
Three/Four-World Model
Gross domestic product (GDP)
Nominal
Purchasing
power parity
(PPP)
Gross national income andIncome
Wages andsalary
Wealth
Othernational accounts
Human development
Digital divide
Net international
investment position
(NIIP)
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