Average wages have surpassed inflation for 12 straight months
www.epi.org
Average hourly wage growth has exceeded inflation for 12 straight months, according to new Bureau of Labor Statistics data released this morning. This real (or inflation-adjusted) wage growth is a key indicator of how well the average worker’s wage can improve their standard of living. As inflation continues to normalize, I’m optimistic more workers will…
    • TheReturnOfPEB@reddthat.comEnglish
      10·
      1 year ago

      The real median household income in the United States for 2022 was $74,580, which represents a 2.3 percent decline from the 2021 estimate of $76,3301. This figure is based on money income, which is pretax and does not account for the value of in-kind transfers. It’s important to note that this calculation excludes billionaires and focuses on the broader population.

      It seems that they are already excluded for some reason.

        • sunzu@kbin.run
          2·
          1 year ago

          Sounds like the median calc is done after billioares are removed

          There are only about 1000 of them so not really sure what that does in labour market of 160m lol

          • joostjakob@lemmy.world
            5·
            1 year ago

            If you use median, removing or not of 1000 people from a pool of millions indeed has zero impact. My guess is that they worded it like that because they assume people don’t knownwhat a median is, so they describe the practical effect