Median income
The median income is the income amount that divides a population into two equal groups, half having an income above that amount, and half having an income below that amount. It may differ from the mean (or average) income. The income that occurs most frequently is the income mode. Each of these is a way of understanding income distribution.
Median income can be calculated by household income, by personal income, or for specific demographic groups.
Median equivalent adult income
The following table represents data from OECD's "median disposable income per person" metric; disposable income deducts from gross income the value of taxes on income and wealth paid and of contributions paid by households to public social security schemes.[1] The figures areequivalised by dividing income by the square root of household size. As OECD displays median disposable incomes in each country's respective currency, the values were converted here using PPP conversion factors for private consumption from the same source, accounting for each country's cost of living in the year that the disposable median income was recorded.[2]. Data are in United States dollars at current prices and current purchasing power parity for private consumption for the reference year.
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- An academic study on the Census income data claims that when correcting for underreporting, U.S. gross median household income was 15% higher in 2010 (table 3).[4]
See also
- Disposable household and per capita income
- List of countries by average wage
- List of countries by wealth per adult
- List of U.S. states and territories by income
- Income distribution
- Household income in the United States
- Median household income in Australia and New Zealand
- Median income per household member
- Places in the United States with notable demographic characteristics
- Poverty in the United States
References
- ^ https://www.oecd.org/els/soc/IDD-ToR.pdf
- ^ https://stats.oecd.org/Index.aspx?DataSetCode=IDD
- ^ "Income Distribution - Median equivalised disposable income - OECD Data". theOECD.
- ^ Fixler, Dennis; Johnson, David S. (September 30, 2012). Accounting for the Distribution of Income in the U.S. National Accounts (PDF). NBER Conference on Research in Income and Wealth. Archived from the original (PDF) on January 22, 2020.