The world’s payroll is $70 trillion U.S. What is your share relative to people living in other countries?
Economists with the International Labour Organization have done a comparison of 72 countries, adjusting income by purchasing power.
Expressed in monthly PPP – purchasing power parity dollars – while wealthy, Canada falls below many countries, including the Republic of Korea, Austria, the United States, Ireland, France and of course those high tax Nordic countries – Sweden, Norway, and Finland. If you are looking for the highest standard of living, move to Luxembourg, which tops the list. The average Canadian earns 66 per cent of what the average citizen of Luxembourg earns.
While income plays an important role in good health, the chart makes no allowances for how that income is distributed within these countries.
The BBC has set up a web site where you can compare your pre-tax salary. Click here.
Interesting how Argentina is rated higher than Brazil. Brazil is often refered to as the ” economic powerhouse of latin America”. Argentina chose to resist externaly dictated austerity measures and defaulted on its massive foreign debts. Perhaps a lessen to be learned there.