From The Guardian today - A comprehensive analysis last year found that two-thirds of the population pulled in less than the national average of £24,907.
At last. It's about time something was available to show just how meaningless this term "average wage" really is. I remember from school how there were three averages. All parts added and divided by the number of parts - that was the 'mean' average which is what this one is. There was the 'median' average which was the halfway point between the lowest and highest - an equally meaningless way of looking at an average wage. Lastly, and the best one, was the 'mode' average; The most common one. In other words, in this context, what most people actually earn.
It's nice to see something official that shows most people earn less than an average figure grossly inflated by higher pay levels.
Someone very kindly posted this. I'm relying on their accuracy. The minimum wage is less than £12,000 a year if 80 people are on that it takes 1 million pound earner to be added to make the average wage over £24,000. For every 6 people on minimum wage it takes 1 person earning £100,000 to be added for the average to be over £24,000.
Thursday, 24 September 2009
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