Minimum Wage?
- Andy Parker
- Aug 31, 2018
- 1 min read
Updated: Jun 13, 2020
I was reading a blog that I check regularly and it discussed some interesting and surprising facts on people in the US earning minimum wage. Most people guess something like 10% or higher of workers. In fact - and you can read details via the following link - the number is 0.5%. That's 1 in 200 workers...
That said, earning minimum wage is only about $15,000 per year (at $7.25 an hour - some states, like NY at $10.10 are higher) which is pretty grim. So it's not a terrific indicator of earning a proper wage. However, also according to the Bureau of Labor Statistics, the median weekly earnings of full-time workers is $876 - about $44,000 per year. But even so, a median indicates that half of people earn less.
But these statistics can be somewhat flawed. My wife and I were out for dinner last night and were talking to the bartender. He said that friends of his - also bartenders - generally, with tips, make around $80,000. And we guess that the woman who cleans our house every week probably makes $100,000. So while the statistics indicate a bleak earnings environment in the US, it's probably not nearly as bad.
Comments