We are the 1%: You need $34k income to be in the global elite... and ...
www.dailymail.co.uk/.../We-1--You-need-34k-income-global-elite--half...
UPDATED: 06:27 EST, 5 January 2012 ... And the global median income is just $1,225 a year, meaning that the world's emerging middle classes are very far ...Median household income - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Median_household_income
The median income is considered by many statisticians to be a better indicator .... This in turn has triggered a global financial crisis. ... Retrieved 12 March 2012.
I couldn't quote further on the first word button on top that starts out "we are the 1%---" but if you click on it you can read it which is sort of mind blowing if you grew up in a developed western or eastern Country.
Here is the Wikipedia site from just above:
Median household income
From Wikipedia, the free encyclopedia
|
The examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. (April 2010) |
“ |
Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average)
is the amount obtained by dividing the total aggregate income of a
group by the number of units in that group. The means and medians for
households and families are based on all households and families. Means
and medians for people are based on people 15 years old and over with
income.[3] |
” |
Contents
International statistics
The annual median equivalised disposable household income for selected countries is shown in the table below. This is what each equivalent adult in a household in the middle of the income distribution earns in a year.Data are in United States dollars at current prices and purchasing power parity for private consumption for the reference year. Data is from OECD statistics.
Rank | Country | Median income (US$, PPP) | Median income (US$, nominal) | Year[4] |
---|---|---|---|---|
1 | Luxembourg | 36,399 | 47,936 | 2010 |
2 | Norway | 32,405 | 52,575 | 2010 |
3 | Switzerland | 30,624 | 47,237 | 2009 |
4 | United States | 29,056 | 29,056 | 2010 |
5 | Canada | 27,721 | 34,929 | 2010 |
6 | Austria | 27,612 | 31,357 | 2010 |
7 | Australia | 27,015 | 38,570 | 2010 |
8 | Denmark | 26,079 | 39,742 | 2010 |
9 | Netherlands | 24,938 | 29,155 | 2010 |
10 | Belgium | 24,362 | 29,221 | 2010 |
11 | Sweden | 24,278 | 31,878 | 2010 |
12 | Germany | 24,152 | 27,213 | 2010 |
13 | Finland | 23,711 | 31,482 | 2010 |
14 | France | 23,289 | 27,835 | 2010 |
15 | Iceland | 23,245 | 27,748 | 2010 |
16 | United Kingdom | 23,182 | 25,237 | 2010 |
17 | South Korea | 22,597 | 18,035 | 2011 |
18 | Ireland | 21,489 | 30,287 | 2009 |
19 | New Zealand | 21,403 | 21,462 | 2009 |
20 | Italy | 21,104 | 23,451 | 2010 |
21 | Japan | 19,564 | 26,671 | 2009 |
22 | Slovenia | 19,160 | 17,971 | 2010 |
23 | Spain | 17,705 | 18,531 | 2010 |
24 | Israel | 15,617 | 18,125 | 2010 |
25 | Greece | 15,322 | 15,823 | 2010 |
26 | Czech Republic | 13,608 | 11,091 | 2010 |
27 | Portugal | 13,092 | 12,400 | 2010 |
28 | Slovakia | 12,696 | 9,758 | 2010 |
29 | Poland | 11,782 | 7,785 | 2010 |
30 | Estonia | 9,987 | 8,224 | 2010 |
31 | Russia | 9,383 | 5,690 | 2008 |
32 | Hungary | 9,007 | 6,374 | 2009 |
33 | Chile | 8,466 | 6,618 | 2011 |
34 | Turkey | 6,772 | 4,835 | 2009 |
35 | Mexico | 4,456 | 3,086 | 2010 |
Median household income and the US economy
Since 1980, U.S. gross domestic product (GDP) per capita has increased 67%,[6] while median household income has only increased by 15%. An economic recession will normally cause household incomes to decrease, often by as much as 10% (Figure 1).Median household income is a politically sensitive indicator. Voters can be critical of their government if they perceive that their cost of living is rising faster than their income. Figure 1 shows how American incomes have changed since 1970. The last recession was the early 2000s recession and was started with the bursting of the dot-com bubble. It affected most advanced economies including the European Union, Japan and the United States.
The current crisis began with the bursting of the U.S. housing bubble, which caused a problem in the dangerously exposed sub prime-mortgage market. This in turn has triggered a global financial crisis. In constant price, 2011 American median household income is 1.13% lower than what it was in 1989. This corresponds to a 0.05% annual decrease over a 22-year period.[7] In the mean time, GDP per capita has increased by 33.8% or 1.33% annually.[8]
A comparison between Median Equivalised Household Income and GDP per Capita in USD for select developed countries is shown in the chart below.[9][10]
See also
- Mean household income
- Income distribution
- Income quintiles
- Household income in the United States
- International Ranking of Household Income
- Median
- Median household income in Australia and New Zealand
- Median income per household member
- Places in the United States with notable demographic characteristics
- Poverty in the United States
References
- Jump up ^ "U.S. Census Bureau: What is the difference between 'a median' and 'a mean'?". Retrieved 2011-09-13.
- Jump up ^ "U.S. Census Bureau on the nature the median in determining wealth". Retrieved 2006-06-29.
- Jump up ^ U.S. Census Bureau, Frequently Asked Question, published by First Gov.""U.S. Government, the different between mean and median". Archived from the original on 2006-09-22. Retrieved 2006-06-29.
- Jump up ^ "OECD Statistics". OECD. Retrieved 2013-05-15.
- Jump up ^ DeNavas-Walt, Carmen; Proctor, Bernadette D.; Smith, Jessica C. (September 2012). "Real Median Household Income by Race and Hispanic Origin: 1967 to 2010". Income, Poverty, and Health Insurance Coverage in the United States: 2011. U.S. Census Bureau. p. 8.
- Jump up ^ IMF.org
- Jump up ^ Census.gov
- Jump up ^ BEA.gov
- Jump up ^ "OECD(2011), Society at a Glance 2011 - OECD Social Indicators". OECD. Retrieved 12 March 2012.
- Jump up ^ "World Economic Outlook database October 2007". International Monetary Fund. Retrieved 12 March 2012.
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