The SSA link gives a median annual compensation of $27,519 but doesn’t give an hourly rate. I notice that if I divide that number by 40 hours a week and 52 weeks a year I get about $13.25; is that what you did? The SSA data includes lots of people working less than 40 hours a week, so if you want to use their numbers you need some way to connect that to hours worked. While I can’t find median hours worked, I found a mean of 33/week. Matching up the median compensation with mean hours worked is very dodgy, but lets assume it’s ok and also that this average employee gets no vacation or holidays. This gives us 33*52=1716 hours per year earning $27,519, or $16/hour. This is below the $19/hour I estimated from Census data above, which we should expect if part time workers tend to be paid less, but nowhere near as low as $13.25. And lots of people do get vacation, holidays, sick time, etc.
Sorry, I’m confused. To estimate how much people are paid per hour, you took total pay and divided it by the number of hours their kids would need to be in daycare? Dividing total pay by hours worked would make much more sense.
Social security administration:
http://www.ssa.gov/oact/cola/central.html
The SSA link gives a median annual compensation of $27,519 but doesn’t give an hourly rate. I notice that if I divide that number by 40 hours a week and 52 weeks a year I get about $13.25; is that what you did? The SSA data includes lots of people working less than 40 hours a week, so if you want to use their numbers you need some way to connect that to hours worked. While I can’t find median hours worked, I found a mean of 33/week. Matching up the median compensation with mean hours worked is very dodgy, but lets assume it’s ok and also that this average employee gets no vacation or holidays. This gives us 33*52=1716 hours per year earning $27,519, or $16/hour. This is below the $19/hour I estimated from Census data above, which we should expect if part time workers tend to be paid less, but nowhere near as low as $13.25. And lots of people do get vacation, holidays, sick time, etc.
Yes, I divided by 40 hrs per week because that was the daycare hours under consideration.
Sorry, I’m confused. To estimate how much people are paid per hour, you took total pay and divided it by the number of hours their kids would need to be in daycare? Dividing total pay by hours worked would make much more sense.