In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.

The minimum wage is a basic labour standard that sets the lowest wage rate that an employer can pay to employees who are covered by the legislation. Today, one of its main purposes is to protect non-unionized workers in unskilled jobs, although it can also influence, directly or indirectly, the level of compensation of other employees as well. A minimum wage constitutes a floor above which employees or their unions may negotiate with management for higher remuneration. However, it is rarely static: adjustments are required from time to time to maintain its relevance in changing economic and social conditions.

In April 2026, the UK minimum wage for adults over the age of 21 will be 12.71 pounds per hour. For the 2026/27 financial year, there are four minimum wage categories, three of which are based on age and one for apprentice workers. Apprentices, and workers under the age of 18 will have a minimum wage of eight pounds an hour, increasing to 10.85 pounds for those aged 18 to 20. When the minimum wage was first introduced in 1999, there were just two age categories; 18 to 21, and 22 and over. This increased to three categories in 2004, four in 2010, and five between 2016 and 2023, before being reduced down to four in the most recent year. The living wage The living wage is an alternative minimum wage amount that employers in the UK can voluntarily pay their employees. It is calculated independently of the legal minimum wage and results in a higher value figure. In 2023/24, for example, the living wage was twelve pounds an hour for the UK as a whole and 13.15 for workers in London, where the cost of living is typically higher. This living wage is different from what the UK government has named the national living wage, which was 10.42 in the same financial year. Between 2011/12 and 2023/24, the living wage has increased by 4.80 pounds, while the London living wage has grown by 4.85 pounds. Wage growth cancelled-out by high inflation 2021-2023 For a long period between the middle of 2021 and late 2023, average wage growth in the UK was unable to keep up with record inflation levels, resulting in the biggest fall in disposable income since 1956. Although the UK government attempted to mitigate the impact of falling living standards through a series of cost of living payments, the situation has still been very difficult for households. After peaking at 11.1 percent in October 2022, the UK's inflation rate remained in double figures until March 2023, and did not fall to the preferred rate of two percent until May 2024. As of November 2024, regular weekly pay in the UK was growing by 5.6 percent in nominal terms, and 2.5 percent when adjusted for inflation.

Minimum Wages in Egypt increased to 7000 EGP/Month in 2025 from 6000 EGP/Month in 2024. This dataset provides - Egypt Minimum Wages- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Minimum Wages in Ireland increased to 13.50 EUR/Hour in 2025 from 12.70 EUR/Hour in 2024. This dataset provides - Ireland Minimum Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Description

This comprehensive dataset provides a wealth of information about all countries worldwide, covering a wide range of indicators and attributes. It encompasses demographic statistics, economic indicators, environmental factors, healthcare metrics, education statistics, and much more. With every country represented, this dataset offers a complete global perspective on various aspects of nations, enabling in-depth analyses and cross-country comparisons.

Key Features

• Country: Name of the country.
• Density (P/Km2): Population density measured in persons per square kilometer.
• Abbreviation: Abbreviation or code representing the country.
• Agricultural Land (%): Percentage of land area used for agricultural purposes.
• Land Area (Km2): Total land area of the country in square kilometers.
• Armed Forces Size: Size of the armed forces in the country.
• Birth Rate: Number of births per 1,000 population per year.
• Calling Code: International calling code for the country.
• Capital/Major City: Name of the capital or major city.
• CO2 Emissions: Carbon dioxide emissions in tons.
• CPI: Consumer Price Index, a measure of inflation and purchasing power.
• CPI Change (%): Percentage change in the Consumer Price Index compared to the previous year.
• Currency_Code: Currency code used in the country.
• Fertility Rate: Average number of children born to a woman during her lifetime.
• Forested Area (%): Percentage of land area covered by forests.
• Gasoline_Price: Price of gasoline per liter in local currency.
• GDP: Gross Domestic Product, the total value of goods and services produced in the country.
• Gross Primary Education Enrollment (%): Gross enrollment ratio for primary education.
• Gross Tertiary Education Enrollment (%): Gross enrollment ratio for tertiary education.
• Infant Mortality: Number of deaths per 1,000 live births before reaching one year of age.
• Largest City: Name of the country's largest city.
• Life Expectancy: Average number of years a newborn is expected to live.
• Maternal Mortality Ratio: Number of maternal deaths per 100,000 live births.
• Minimum Wage: Minimum wage level in local currency.
• Official Language: Official language(s) spoken in the country.
• Out of Pocket Health Expenditure (%): Percentage of total health expenditure paid out-of-pocket by individuals.
• Physicians per Thousand: Number of physicians per thousand people.
• Population: Total population of the country.
• Population: Labor Force Participation (%): Percentage of the population that is part of the labor force.
• Tax Revenue (%): Tax revenue as a percentage of GDP.
• Total Tax Rate: Overall tax burden as a percentage of commercial profits.
• Unemployment Rate: Percentage of the labor force that is unemployed.
• Urban Population: Percentage of the population living in urban areas.
• Latitude: Latitude coordinate of the country's location.
• Longitude: Longitude coordinate of the country's location.

Potential Use Cases

• Analyze population density and land area to study spatial distribution patterns.
• Investigate the relationship between agricultural land and food security.
• Examine carbon dioxide emissions and their impact on climate change.
• Explore correlations between economic indicators such as GDP and various socio-economic factors.
• Investigate educational enrollment rates and their implications for human capital development.
• Analyze healthcare metrics such as infant mortality and life expectancy to assess overall well-being.
• Study labor market dynamics through indicators such as labor force participation and unemployment rates.
• Investigate the role of taxation and its impact on economic development.
• Explore urbanization trends and their social and environmental consequences.

Data Source: This dataset was compiled from multiple data sources

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In the United States, the median income in 2023 was at 112,800 U.S. dollars for Asian households. This is a large increase from 2002 when the median income for Asian households was 84,770 U.S. dollars (in 2023 U.S. dollars).

In the United States, the median income in 2023 was at 65,540 U.S. dollars for Hispanic households. This is a large increase from 1990 when the median income was 47,600 U.S. dollars for Hispanic households (in 2023 U.S. dollars).

Asian households measured the highest median household income among racial and ethnic groups in the United States. In 2024, Asian household incomes reached a median of 121,700 U.S. dollars. On the other hand, Black households had the lowest median income of 56,020 U.S. dollars. Overall, median household incomes in the United States stood at 83,730 U.S. dollars that year.Asian and Caucasian (white not Hispanic) households had relatively high median incomes, while the median income of Hispanic, African American, American Indian, and Alaskan Native households all came in lower than the national median. A number of related statistics illustrate further the current state of racial inequality in the United States. Unemployment is highest among Black or African American individuals in the U.S. nearing nine percent unemployed, according to the Bureau of Labor Statistics in 2024. Hispanic individuals (of any race) were most likely to go without health insurance as of 2024.

The median income in 2023 was at 56,490 U.S. dollars for Black households. In 1990, the median income among Black households was 38,360 U.S. dollars (In 2023 U.S. dollars).