Wage Statistics for 2010

By EmmaZahn on Thu, 10/20/2011 - 3:06pm |

The "raw" average wage, computed as net compensation divided by the number of wage earners, is $6,009,831,055,912.11 divided by 150,398,796, or $39,959.30. Based on data in the table below, about 66.2 percent of wage earners had net compensation less than or equal to the $39,959.30 raw average wage. By definition, 50 percent of wage earners had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010.

Notice 81 'wage' earners received over $50 million in net compensation for 2010.

URL:

http://www.ssa.gov/cgi-bin/netcomp.cgi?year=2010

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We often hear about the median household income ($49,445), so it's interesting to see the median wage earner income. It also makes me wonder how those two numbers reconcile, when the number of households in the US in 2010 was 114,825,000 versus only 150,398,796 wage earners. I must be missing something because the math doesn't work.

by Verified Atheist on Thu, 10/20/2011 - 3:59pm

Must be some of those apples and oranges.

Some numbers are more official than others. These are from taxable wages reported and Social Security / Medicare premiums paid. Your numbers are from the census bureau. The household data is gathered a little differently.

by EmmaZahn on Thu, 10/20/2011 - 4:49pm

It also occurred to me that medians are a tricky thing, especially when you throw in gender inbalance and the fact that most married couples are of the opposite sex. And, I'm not sure what constitutes a "household" for the one definition versus the other.

by Verified Atheist on Fri, 10/21/2011 - 6:29am

David Cay Johnston in Reuters:

Anyone who wants to understand the enduring nature of Occupy Wall Street and similar protests across the country need only look at the first official data on 2010 paychecks, which the U.S. government posted on the Internet on Wednesday.

The figures from payroll taxes reported to the Social Security Administration on jobs and pay are, in a word, awful.

These are important and powerful figures. Maybe the reason the government does not announce their release — and so far I am the only journalist who writes about them each year — is the data show how the United States smolders while Washington fiddles.

by Donal on Thu, 10/20/2011 - 5:51pm

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