The battle between minimum wage and the average wage is fascinating. The information one gets from looking closely at how the minimum wage compares to the average wage for a certain area can tell us a lot about wage gaps.
Looking At Wage Gaps
We can learn a lot by looking at the average wages for a certain part of the world, and then comparing that to what the minimum wage is. Such data reveals a lot in the way of how many people are earning a minimum wage against how many people are earning something that is higher to a certain degree than the minimum. Obviously, the more a person earns, the wider the gap will be between that person and a minimum wage earner. This data can be examined in a global context to see which continents have more examples of severe wage gaps than others. You can also look at specific countries to see how certain parts of the country fare against others.
With that thought in mind, let’s take a look at the specifics of each continent:
Overall, the average wage earner in Europe is earning anywhere from two to eight times more than the minimum wage earner. Smaller pockets of Europe have wage earners making one to two or 10 or more times as much as the minimum wage earner.
The breakdown for North America is fascinating. An enormous portion of the contentment makes one to two times more than the minimum wage earner. Most of the United States makes two to three times more than the minimum wage earner. Interestingly enough, most of the people who live and work in Mexico make three to eight times more than the minimum wage earner.
Most of South America makes one to two times more than the minimum wage earner.
This continent is rather spread out in terms of average incomes against minimum wage incomes. Large portions of the continent are making one to two times above the minimum wage, but other, equally impressive chunks of Africans are making 10 times or more above the minimum wage. Other parts are making eight to ten times more, while a few more spots have people making three to eight times more.
Asia and Australia:
Australians are making one to two times above the minimum wage. Asia is a bit more diverse, but most are earning 3-8 times above minimum wage.