Half the population will be below the median
But the report refers to "less than two-thirds of the median wage", so there is a bit of a downwards skew.
(Median is a much, much, much better measure of 'equality' than mean in this situation. If you use the mean then as the rich get richer the mean will shift so much that it will look like everybody is getting much better-off).
( , Sun 26 Oct 2014, 15:03, Share, Reply)
But the report refers to "less than two-thirds of the median wage", so there is a bit of a downwards skew.
(Median is a much, much, much better measure of 'equality' than mean in this situation. If you use the mean then as the rich get richer the mean will shift so much that it will look like everybody is getting much better-off).
( , Sun 26 Oct 2014, 15:03, Share, Reply)