Wednesday, July 23, 2014

ARE THE POOR LAZY?

CNBC recently published a list of jobs compiled by CareerCast.Com that are disappearing and gave their median incomes.  It is the incomes I am interested in.*  Please note that while 50
% of those in these jobs earn something more than the stated amount, the other 50% earn something less.

1. Tax Examiner and Collector: $50,444
2. Printing Worker:                   $34,100
3.Drill-Press Operator:             $32,950
4. Flight Attendant:                   $37,240
5. Lumberjack:                         $24,340
6. Travel agent:                         $34,600
7. Newspaper Reporter:           $37,090
8. Meter Reader:                      $36,410
9. Farmer:                                $69,300
10 Mail Carrier:                        $53,100

Median Household Income:      $51,371**
(includes all in the household age 15 and above for 2012 whether they are related or not.)

Median Household Income:       $55,030**
(figures for households in 2000)

Here is a sampling of other low paid professions: ***
11. Drafters and Drafting:            $43.100
12. Surveyor:                              $48,300
13. Chef and Head Cook:            $34,400
14. Dish Washers:                       $15,800
15. Waiters and Waitresses:         $14,800
16. EMT and Paramedics:           $27,100
17. Cashiers:                               $16,800
18: Insurances sales:                    $43,900
19. Retail Sales managers:           $34,000
20: Excavating  and Loading:       $32,900

And I could list so many more.

Median household income has dropped by $ 3,729 since the year 2000.

Please note that of the 10 jobs listed only two (Farmer and Mail Carrier) have median income earn above the 2012 household income.  In all others more than 50% earn less than the median household income.  Yes Tax Examiner and Collector comes close, but still something more than 50% earn less than the median household income.

What is the importance of this?  In many jobs it will take at least two people in a household with earnings to get into the top 50% of household incomes.  You could put two people in a household who are lumberjack and still, 50% would earn less than the median household income!  Lumberjack is by far the most physical job in the list, probably followed by Farmer.

SO WELCOME TO THE 47% WHO PAY NO INCOME TAX.  And they are NOT lazy.

Of course, there are professions where the median salary is above the median household income, such as

1. Aerospace Engineers:           $87,600
2. Landscape Architects:          $64,100
3. Mechanical Engineer:            $69,800
4. Petroleum Engineers:            $98,400
5. Registered Nurses:               $60,400
6. Surgeons:                            $145,600
7. Managers (non-retail):          $65,500
8. Locomotive Engineers:         $58,000
9. Air Traffic controller:           $117,200
10.Chemists:                            $59,900

I suspect you may have overestimated what the "high paying professions" pay.

*   http://www.cnbc.com/id/101840906
** http://www.census.gov/prod/2013pubs/acsbr12-02.pdf
*** https://www.blogger.com/blogger.g?blogID=112427639902898514#editor/target=post;postID=8876003753717930333;onPublishedMenu=allposts;onClosedMenu=allposts;postNum=1;src=link

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