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The average wage is a measure for the financial well-being of a country's inhabitants. A similar measure is GDP per capita. However, GDP (on the income side) = compensation of employees + gross operating surplus/mixed income + taxes on production - subsidies. This way, various components increase the GDP that are not directly contributing to the well-being of citizens. In particular, the gross operating surplus consists of corporate profits, which is money that companies save, reinvest, or pay to their shareholders in the form of dividends (who may be located outside the country). Even in the case of reinvestment, much of the money moves offshore, especially with larger multi-national companies. In order to measure the part of the income generated by the domestic economy that is actually earned by the employees, it is better to break down the GDP to its components and consider only wages and salaries.

Contents

Methodology

The data presented represents full-time average annual gross wages and salaries in the entire economy. The figure is derived by taking the national accounts aggregate of wages and salaries, dividing them by the national accounts aggregate for average employment, and multiplying by the ratio of average weekly working hours per full-time employee to average weekly working hours for all employees. The calculations were made by the OECD.[1] Wages and salaries are a component of GDP on the income side.

Since PPP conversion is a universally accepted way to compare income (including wages), the data listed are in PPPs (for private consumption).[2]

Average full time wages (PPP)

Rank Country 2007 $ PPP
1  Luxembourg 49,663
2  United States 49,486
3  Ireland 44,013
4  Switzerland 42,980
5  Netherlands 42,514
6  Australia 42,019
7  United Kingdom 40,825
8  Belgium 40,591
9  Norway 40,177
10  Denmark 39,143
11  Austria 38,682
12  France 35,430
13  Germany 35,292
14  Sweden 33,586
15  Japan 31,773
16  Finland 31,211
17  Italy 29,198
18  Spain 28,871
19  South Korea 27,587
20  Greece 26,929
21  Hungary 21,161
22  Czech Republic 18,922
23  Portugal 18,300
24  Poland 15,446

See also

References

  1. ^ http://www.oecd.org/document/22/0,3343,en_2649_39023495_43221014_1_1_1_1,00.html#hours How do OECD labour markets perform?
  2. ^ The Canberra group Expert Group on Household Income Statistics: Final Report and Recommendations, 2001, ISBN 0-9688524-0-8.

External links

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