This Fourth of July Americans Can Celebrate Highest Wages Globally and Staggering Big Mac Purchasing
This Fourth of July Americans Can Celebrate Highest Wages Globally and Staggering Big Mac Purchasing Power
Monster and the WageIndicator Foundation Study Reveals U.S. Leading Globally in Hourly Wages, Purchasing Power and Key Burgernomic Indicators
MAYNARD, Mass.--(BUSINESS WIRE)-- Monster.com, the worldwide leader in successfully connecting people to job opportunities and flagship brand of Monster Worldwide, Inc. (NYS: MWW) , today announced Americans are among the best paid in the world and garner some of the highest hourly wages across industries. According to the latest Wage Index report brought by the WageIndicator foundation, which provides insights on the state of wages and labor markets across 70 countries, the good news for the American worker doesn't stop there. When cross-referenced with The Economist's Big Mac Index, which measures purchase-power parity across currencies, workers in the U.S. can seemingly purchase a greater number of Big Macs per hour than workers in any other country.
"As Americans celebrate the Fourth of July with barbecues across the land, what better way to demonstrate how the US stacks up against the rest of the world? The hamburger, perhaps one of the most American of cuisines, definitely fits the bill - though, this is simply an index and I wouldn't recommend consuming that many hamburgers at one time," said Paulien Osse, Director WageIndicator Foundation.
With a median gross hourly wage of $24.50*, U.S. workers could seemingly purchase 4.1 Big Macs per hour, which trumps the United Kingdom at 3.5 Big Macs per hour and a median gross hourly wage of $19.60.
According to the Wage Index, Americans rise to the top with the highest gross median hourly wage of $24.50, significantly more than the UK, followed by Germany at $19.10, the Netherlands at $18.50 and Belgium at $16.30.
About the Index
The Monster and WageIndicator Foundation's Wage Index is the result of the long-standing relationship working towards the common aim of a transparent labor market. The Index utilizes a survey of hourly wages of workers and professionals in over 70 countries and provides insight to the development of wages on a global scale.For this study, 123,097 respondents participated and no less than 14,980 respondents were selected in each profession to participate.
These questionnaires are part of the permanent WageIndicator Salary Survey available at http://www.wageindicator.org.
Global comparisons are made on the basis of data from 2006 to 2012 from the international database and an analysis of wages of nearly 160,000 respondents worldwide.
Note: The Big Mac Index is based on the publication of The Economist in July 2012. Purchasing power figures are based on the WEO database of the IMF or October 2012.
* Reported in International US Dollars
About WageIndicator Foundation
The WageIndicator concept is owned by the independent, non-profit WageIndicator Foundation, established in 2003. Its Supervisory Board is chaired by the University of Amsterdam/Amsterdam Institute of Advanced Labour Studies, the Dutch Confederation of Trade Unions (FNV) and Monster career site. The Foundation aims for transparency of the labour market by sharing and comparing wage data and labour conditions information. The Foundation operates national websites in 70 countries. The websites have a so-called 3 pillar structure: for wages & salaries, for labour law, and for vacancies and education related information. In more than 20 countries - mainly in Africa, Asia, Central America - the national WageIndicator websites are supported with offline actions like face-to-face surveys, fact finding debates and media campaigns. The Dutch WageIndicator website Loonwijzer has 500 000 visitors per month, approximately 80 % of whom are employees/workers and 20% employers. WageIndicator Foundation operates globally through a network of associated, yet independent regional and national partner organizations like universities, media houses, trade unions and employers organizations, and self-employed specialists for legal, internet, media issues, with whom the Foundation engages in long lasting relationships. WageIndicator Foundation has offices in Amsterdam (HQ), Ahmedabad, Bratislava, Buenos Aires, Cape Town, Dar es Salaam, Maputo and Minsk.
About Monster Worldwide
Monster Worldwide, Inc. (NYS: MWW) , is the global leader in successfully connecting job opportunities and people. Monster uses the world's most advanced technology to help people Find Better, matching job seekers to opportunities via digital, social and mobile solutions including monster.com®, our flagship website, and employers to the best talent using a vast array of products and services. As an Internet pioneer, more than 200 million people have registered on the Monster Worldwide network. Today, with operations in more than 40 countries, Monster provides the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities globally. For more information visit about-monster.com.
Kristen Andrews, 978-461-8089
KEYWORDS: United States North America Massachusetts
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