Michael Pollak wrote:
On Mon, 14 Feb 2005, Doug Henwood wrote:
Real hourly earnings for all private sector workers:
Jan 73 (high) to May 95 (low): -18.1% May 95 to Nov 03 (latest high): + 9.9% Nov 03 through Jan 05 (latest): - 1.0% latest vs Jan 73 peak: -10,8%
BTW, going back to these original totals, 3 questions:
1) What's the figure for the Jan 73 high through the Nov 03? (As a peak to peak measurement, that would be the most legitimate long-term measure, right?)
Well, if something declines 18.1%, then rises 9.9%, it ends up at 90% of its initial value. So, off 10%.
2) Are these changes in the median or the average? (I was wondering if that was another difference between this BLS measure and the Soc Security meausure, on top of the fact that that latter included an additional quintile.)
Both are means, not medians.
3) What's the difference between the median and average wage now, out of curiousity?
It's not reported regularly. Household mean income is usually about 33% higher than median.
Doug
