Unexpectedly Intriguing!
January 17, 2007

After modeling the distribution by hourly wage of the U.S.' paid-by-the-hour workforce, we thought it might be fun to graphically present some of the data we encountered in various tables published by the Bureau of Labor Statistics. First up, here's a pie chart showing the relative numbers of hourly paid vs. otherwise paid U.S. workers for 2005:

Next up, let's see how much of the entire U.S.' 2005 workforce of 125,612,000 people worked in full-time jobs vs. part time jobs:

Now, let's look a little more closely at those who earn the U.S. minimum wage or less. How do they compare to the overall U.S. workforce with respect to working full or part time?

Isn't that amazing? If we add up everyone making the minimum wage or less while working near full time (35-39 hours per week), full time (40 hours per week) and more than full time (41+ hours per week), and assume that the 14.5% of the workforce whose hours vary from week to week are only working part-time, we have nearly two-thirds (66.3%) of minimum wage earners working part-time, and just over one-third (33.7%) who do work full time.

That's also way different from the average 17.6% of the U.S. workforce that only works part-time. It would seem that taking a minimum-wage position almost guarantees that you won't be working full time for your employer.

Our final chart for this post shows the distribution by age of the portion of the U.S. workforce that earns less than or equal to the current U.S. minimum wage of $5.15 per hours:

Pretty startling, eh? This chart confirms that the minimum wage is primarily earned by the very young. We find that 26.1% are between the ages of 16 and 19, and if we go up to age 25, we find that 53.3% of the people earning minimum wage or less fall into this group. If we add the 12.2% of the minimum wage earning workforce who are between 25 and 29 years old to this latter value, we discover that nearly two-thirds (65.5%) of the so-called minimum wage workforce is under the age of 30.

By contrast, at the old end of the age distribution, there were just 4.7% minimum-wage earning workforce members above the age of 60. Minimum wage earning would seem to mostly be a phase for the young!

Labels: ,

About Political Calculations



blog advertising
is good for you

Welcome to the blogosphere's toolchest! Here, unlike other blogs dedicated to analyzing current events, we create easy-to-use, simple tools to do the math related to them so you can get in on the action too! If you would like to learn more about these tools, or if you would like to contribute ideas to develop for this blog, please e-mail us at:

ironman at politicalcalculations.com

Thanks in advance!

Recent Posts

Applications

This year, we'll be experimenting with a number of apps to bring more of a current events focus to Political Calculations - we're test driving the app(s) below!

Most Popular Posts
Quick Index

Site Data

This site is primarily powered by:

This page is powered by Blogger. Isn't yours?

Visitors since December 6, 2004:

CSS Validation

Valid CSS!

RSS Site Feed

AddThis Feed Button

JavaScript

The tools on this site are built using JavaScript. If you would like to learn more, one of the best free resources on the web is available at W3Schools.com.

Other Cool Resources

Blog Roll

Market Links
Charities We Support
Recommended Reading
Recommended Viewing
Recently Shopped

Seeking Alpha Certified

Archives
Legal Disclaimer

Materials on this website are published by Political Calculations to provide visitors with free information and insights regarding the incentives created by the laws and policies described. However, this website is not designed for the purpose of providing legal, medical or financial advice to individuals. Visitors should not rely upon information on this website as a substitute for personal legal, medical or financial advice. While we make every effort to provide accurate website information, laws can change and inaccuracies happen despite our best efforts. If you have an individual problem, you should seek advice from a licensed professional in your state, i.e., by a competent authority with specialized knowledge who can apply it to the particular circumstances of your case.