Average Salary in US

The great American dream has been the torch bearer of the US in the last couple of decades. America still continues to be one of the most prosperous nations in the world, with the average salary in US still way higher than many countries in the world. I know I may sound a bit over optimistic presently, but it is a fact that even though the last three years have been horrific for the US economy, it still has much to boast of its wealth. After all, there are not many countries whose governments can come to the rescue of the nation's market and economy by pouring in financial aid, to the tune of billions and trillions within short intervals of time. With national unemployment rate in December 2010 at 9.40% and situation still worse in some States, it has been a tough time for American residents. Still, US remains a major financial center for the world. While the US boasts of hundreds of thousands of entrepreneurs and millionaires, billionaires; the income of an average Joe is also significant parameter of where the economy is heading. What is the average salary in US, especially after the US economy suffered tragic losses due to the ongoing economic recession for the last two - three years.

Average Salary in US in 2010

When we talk about average salary in US, it subjects us to certain terms and conditions. Firstly, we must define what we mean by average salary. There are several statistics compiled by US Census Bureau, the BLS and Department of Commerce that are related to "average personal income in US", "median household income" and "per capita income in US". Now, it would be confusing if we don't exactly define what an average salary would mean in our discussion. Since this article is all about average American income 2010, we have presented data about salary range of median household income. Statistics can be difficult to interpret with least knowledge of terms. Hence, let us know the definition of median income as put forward by the U.S. Census Bureau.

"Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount. Mean income (average) is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. The means and medians for households and families are based on all households and families. Means and medians for people are based on people 15 years old and over with income."

As per the Organization for Economic Co-operation and Development (OECD), average salary in US for a household has been approximately $49,000 per annum in the year 2009. For the year 2008, the median household income was $52,000. Individuals with good educational qualifications like bachelor's and master's degree have been the major professionals earning between $30,000 to $50,000, in the first few years of their job.

The economic crisis has been quite bad for US and scholars have predicted slow recovery. While it is titillating information to know whooping salaries of US entrepreneurs and business men, the average salary in US, in this article, restricts to figures of common US citizen. Owing to lack of much conclusive data about average salary in US, it would be a fair judgment to conclude that an average American household with at least one or two workers must be able to make anywhere between US$30,000 to US$50,000.

As the US Census Bureau and BLS will come up with more information and statistics about average salary in US, we'll able to know about how well the economy performed in the year 2010 and also about the average income in USA for the year 2010. Nonetheless, gradually the economy is recovering and hope this year brings better conditions for each of us.