According to the American Community Survey, the average American has a household income of around $66,000.
Average income is not an insignificant number though. The U.S. Census Bureau ranks the median income in the United States at about $38,300.
The average income for Americans and the median are pretty close to each other at about $25,000 a year, but the median is a bit more than you might expect. That’s why, when I asked the folks at Statistics Inc. to break down the statistic, they sent me this table.
To get an idea of how large the median is, consider the following question: “If your income was $50,000 a year, how much would your standard of living be?” That is, would your standard of living be that of the median person in the U.S.? Now, I’m not going to claim that all people in the U.S.
are pretty close to each other at about 25,000 a year, but the median is a bit more than you might expect. Thats why, when I asked the folks at Statistics Inc. to break down the statistic, they sent me this table.
This table is the average of all the wages and salaries across the U.S. It is based on the Bureau of Labor Statistics’ data from the Current Population Survey. It is a very nice graph and a very good illustration of how the U.S. has a pretty decent standard of living.
The average wage is a very important number in the economic development of the country. It shows how much a person would earn if they didn’t have any dependents, and how much a person would earn if they had dependents to support them. It shows how much you could earn in a given year if you make enough money to support yourself. It is considered a good proxy for the average income of a person in the U.S.
It is important to remember that the U.S. has the highest average wage in the developed world, and it should be reflected in all our statistics and research.
When looking at a job’s average wage, it’s all about what the job pays, not what you do for a living. So if you make above average wages, it’s okay to put that in the statistics. If you make less than average wages, it’s even better to put that in the statistics.
Industry average wages are what the Bureau of Labor Statistics says the average median wage in the U.S. is, and that is $46,000 per year. The Bureau of Labor Statistics also reports that the median wage varies significantly by occupation. So if you are a doctor and you make above average wages, you have to put that in the statistics. If you make less than average wages, that’s okay too.