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Under current calculations, according to the Social Security Administration, a worker with an average wage rate who retired in 2002 at 65, then collected Social Security checks until she died at 82, would receive $318,000.
Low-skill occupations, of course, pay wages that are below the average wage rate.
At this point we cannot disaggregate the change in income into changes in employment and changes in the average wage rate.
The productivity per hour worked by educational attainment is calculated deterministically by fitting a quadratic function to MTAS (2010) data on the average wage rate per hour worked across age by educational attainment.
The HCA estimates total production losses due to illness, premature death, or disability by calculating the total period of absence and multiplying this by the average wage rate of the absent worker.
Using an average wage rate for the total population has the advantage of encouraging social equity in the distribution of health services and other resources, because lost productivity resulting from morbidity and mortality is valued equally across persons.
Similar(41)
"Compared to the other core cities we're doing pretty well, average wage rates have gone up," said Ferguson.
The young Indian faces challenges stretching from a poorly administered education system to the lowest average wage rates in the world.
He said: "Recruitment companies have reported that although the introduction of the living wage has pushed average wage rates higher, the increase in staff costs has also led to a pullback in hiring at some firms.
At today's average wage rates, that means that a man with above-average looks can expect to earn $230,000 more over his career than his ill-favored peers.
In many studies, the physical units consumed are monetised with market prices reflecting opportunity costs, and personnel time was valued by average wage rates as recommended [37, 38].
More suggestions(16)
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CEO of Professional Science Editing for Scientists @ prosciediting.com