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TheStreet Open House

This Fourth Of July Americans Can Celebrate Highest Wages Globally And Staggering Big Mac Purchasing Power

Stock quotes in this article: MWW

Monster.com, the worldwide leader in successfully connecting people to job opportunities and flagship brand of Monster Worldwide, Inc. (NYSE: 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.

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