List of countries by average wage
List of countries by average wage is a comprehensive index that provides information about the average income of individuals in different countries around the world. The average wage is a key economic indicator that helps to understand the standard of living, economic health, and wealth distribution in a country.
Definition[edit | edit source]
The average wage is calculated by dividing the national-accounts-based total wage bill by the average number of employees in the total economy, which includes not only wage-earners but also the self-employed. The wage bill consists of total remuneration, in cash or in kind, payable to employees for work done by them on behalf of an employer during the accounting period.
Factors affecting average wage[edit | edit source]
Several factors can affect the average wage in a country. These include the country's level of economic development, the structure of the economy, the level of education and skills of the workforce, the labour market conditions, and government policies.
List of countries by average wage[edit | edit source]
The list of countries by average wage is usually presented in a tabular format, with countries listed in alphabetical order. The table typically includes columns for the country name, the average wage in local currency, the average wage in US dollars, and the year of the data.
Interpretation and use[edit | edit source]
The list of countries by average wage can be used for various purposes. It can help to compare the standard of living across countries, to understand the distribution of wealth within a country, and to analyze the impact of economic policies on wages. However, it is important to note that the average wage does not necessarily reflect the median wage, which is the wage received by the typical worker. Therefore, the average wage can be skewed by a small number of high earners.
See also[edit | edit source]
- List of countries by GDP (PPP) per capita
- List of countries by GDP (nominal) per capita
- List of countries by GNI (PPP) per capita
- List of countries by GNI (nominal) per capita
- List of countries by income equality
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