Average Industrial Wage

AAA

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.

RELATED TERMS
  1. Income

    Money that an individual or business receives in exchange for ...
  2. Per Capita

    A Latin term that translates into "by head," basically meaning ...
  3. Economics

    A social science that studies how individuals, governments, firms ...
  4. Macroeconomics

    The field of economics that studies the behavior of the aggregate ...
  5. Mean

    The simple mathematical average of a set of two or more numbers. ...
  6. Productivity

    An economic measure of output per unit of input. Inputs include ...
Related Articles
  1. Options & Futures

    Explaining The World Through Macroeconomic ...

  2. Investing

    What's the difference between macroeconomics ...

  3. Retirement

    Economic Indicators To Know

  4. What is GNP?
    Economics

    What's the GNP?

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center