How much do American workers earn? It just may surprise you.
According to the latest Bureau of Labor Statistics report, older men earned the most among workers of all ages. But nobody’s bringing home big fat raises. Our salaries on average went up by only 1.4 percent from the year before. Yet the prices for food, utilities and other goods and services rose by 1.9 percent.
Overall, men out-earned women once again. Jobs in professional, management and other related occupations paid the highest — $1,340 in median weekly earnings for men and $953 for women.
Conversely, jobs in the services industry paid the least: $550 in median weekly earnings for men and $420 for women.
Here are some of the other eye-opening wages from the last quarter of 2012:
- $775 was the median weekly earnings for all workers
- $692 was the median for women, about 79 percent of the $875 median for men
- $1,035 was the median for men age 55 to 64; $759 for women
- $997 was the median for men age 45 to 54; $747 for women
Predictably, workers who graduated from college with at least a bachelor’s degree earned more — nearly double, in fact — than those who held only a high school diploma: $1,168 compared with $647 in median weekly earnings. Those who dropped out of school earned $478.
The report also found that getting an advanced college degree pays off. The highest earning 10 percent of men with advanced degrees made at least $3,474 per week, compared with at least $2,343 for women.
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