Average Industrial Wage

Definition of 'Average Industrial Wage'


The mean hourly rate of pay for workforce members of a given geographical area, such as a country or province, excluding farm employees. This measurement serves as a reasonable proxy for the wage rate of the average worker in a given country, and is used by labor organizations and employers as a benchmark.

Investopedia explains 'Average Industrial Wage'


Statistics such as the average industrial wage are often calculated by national survey organizations such as the U.S. Bureau of Labor Statistics and Statistics Canada, and can be compared with a region's rate of inflation to determine the relative increases in individual income levels.



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