This chart ranks OECD countries by their national minimum wage in 2020. In this year, Luxembourg and Australia had the highest minimum wages at $12.4 U.S. dollars an hour, once adjusted for purchasing power parity. The full dataset below includes wages from 2001-2020. View data below and filter by country or year in the search bar of the dataset to analyze wage changes over time.
#wages
Source: OECD
This dataset ranks OECD countries by their national minimum wage from 2001 to 2020. I selected a few of the major economies to track how their minimum wages fluctuated over time. Most are linear, with the United States on the decline since 2010 and Korea making the most gains up almost $6 since 2002.
#wages
Source: OECD
Despite the highest inflation in 40-years, real wages are higher than pre-pandemic as of March 2022. Real wages in March 2022, as calculated by the ratio of Avg. Hrly Earnings to CPI, is actually up 1.8% since Jan 2020!
Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing
the inflation narrative.
Source: Ratio of Average Hourly Earnings to CPI
#economy #inflation #wages
Despite the highest inflation in 40-years, real wages are higher than pre-pandemic.
Real wages, as calculated by the ratio of Avg. Hrly Earnings to CPI is actually up 3% since Jan 2020!
Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing the inflation narrative.
#economy #inflation #wages
