National average salary

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National average and median salary in the United States from 1990 to 2024 in thousands of dollars Average versus median US national wage graph.gif
National average and median salary in the United States from 1990 to 2024 in thousands of dollars

The national average salary (or national average wage) is the mean salary for the working population of a nation. It is calculated by summing all the annual salaries of all persons in work (surveyed) and dividing the total by the number of workers (surveyed). [1] It is not the same as the Gross domestic product (GDP) per capita, which is calculated by dividing the GDP by the total population of a country, including the unemployed and those not in the workforce (e.g. retired people, children, students, etc.).[ citation needed ] It can be useful in understanding economic conditions, and to employers and employees in negotiating salaries. [1] The national median salary is usually significantly less than the national average salary because the distribution of workers by salary is skewed. [2]

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References

  1. 1 2 "What Is the Meaning of Average Salary?". Chron. 2013-04-12. Retrieved 2024-12-02.
  2. SueKunkel. "Average wages, median wages, and wage dispersion". www.ssa.gov. Retrieved 2024-12-02.
  3. "National Average Wage Index". United States Social Security Administration . Retrieved 2024-12-02.