Introduction
What does it mean to be an “average” person? While there is no single definition of an average person, one could define them as someone who is neither wealthy nor destitute, but rather someone who falls somewhere in the middle of the economic spectrum. This article will explore how much money the average person makes a year and examine the wage growth across different professions.
A Look at the Average Earnings for a Typical Person
The U.S. Bureau of Labor Statistics (BLS) provides an overview of the average earnings for a typical person. According to the BLS, the average income for the average worker was $46,800 in 2019. The median income of a typical person was slightly lower at $45,712. These numbers are based on data from all full-time workers aged 16 and over.
When looking at wage growth across different professions, the BLS found that the highest-paid workers tend to be those in management, business, science, and arts. On the other hand, the lowest-paid workers tend to be those in service, sales, construction, and production occupations. Overall, the average growth rate for all occupations was 2.1% from 2018 to 2019.
Examining How Much Money the Average Person Makes Per Year
So how much money does the average person make per year? According to the latest data from the U.S. Census Bureau, the average salary of an average person was $56,516 in 2018. This number is up slightly from the previous year, when the average salary was $55,322. When broken down by gender, men earned an average of $58,926 while women earned an average of $53,719.
When comparing wages across different industries, the highest earners tend to be those in finance, insurance, real estate, and information technology. On the other hand, the lowest earners tend to be those in retail, hospitality, and social services. Overall, the average wage growth across all industries was 1.8% from 2017 to 2018.
Finally, when breaking down the average annual income by age group, the highest earners tend to be those between the ages of 35 and 44. The lowest earners tend to be those under the age of 25. Overall, the average wage growth across all age groups was 1.5% from 2017 to 2018.
Conclusion
In conclusion, this article has explored how much money the average person makes a year. We have seen that the average income for the average worker was $46,800 in 2019. We have also seen that the highest-paid workers tend to be those in management, business, science, and arts, while the lowest-paid workers tend to be those in service, sales, construction, and production occupations. Finally, we have seen that the highest earners tend to be those between the ages of 35 and 44, while the lowest earners tend to be those under the age of 25.
If you would like to learn more about average earnings for a typical person, please refer to the U.S. Bureau of Labor Statistics and the U.S. Census Bureau. Both of these organizations provide detailed information on wages, income, and employment trends.
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