BLS Report: Median weekly earnings of full-time wage and salary workers are $957 in 1st quarter 2020

[mahatmakanejeeves]

Median weekly earnings of full-time wage and salary workers are $957 in 1st quarter 2020

Median weekly earnings of the nation's 115.9 million full-time wage and salary workers were $957 in the first quarter of 2020 (not seasonally adjusted). This was 5.7 percent higher than a year earlier, compared with a gain of 2.1 percent in the CPI-U.

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[captain queeg]

1. I assume that's gross not net

Like all statistics you need to be aware of what data is compiled and I often think stuff about employment are manipulated one way or another. Like the unemployment rate, at least prior to the current crisis doesn’t account for underemployed or part time workers or those that have multiple jobs. As far as pay, using gross income is the usual but I often see numbers that include things like benefits as part of the pay

[JT45242]

2. Lies, damn lies, and statistics

So, just to be clear this only counts FULLTIME WAGE AND SALARY WORKERS

That means that it excludes all who are
a) Part time
b) Gig workers
c) Hired through a temp agency (a preferred way for businesses to not have to pay benefits)
d) Technically self employed while working like a real employee (another great way for corporate grifters to avoid paying their share of Social security, unemployment, etc).

So, for that small slice of economy (FT wage or salary workers) -- the median income increased -- just prior to millions of them getting laid off, hours cut to part time, etc.

I am blessed to be FT salaried with benefits, but my wife has been a 'self employed' worker working for the same guy for 6 years.

My brother has bounced from gig to gig for almost 8 years.

We need to be diligent to not let the (R) slice and dice statistics to make it look better than it really is.