Nominal Compensation, Real Compensation, and Standard of Living

  • Lawrence H. Officer


Table 7.1 presents the main results of the book: the time series of average hourly compensation (AHC, the sum of AHE and AHB), average hourly earnings (AHE, constructed in chapter 5), and average hourly benefits (AHB, constructed in chapter 6). AHB is assumed zero until 1900, then computed for positive values but rounds up to a level of one-tenth of one cent only in 1912. The three variables are rounded to a tenth of a cent (that is, shown to three decimal places) until AHB reaches one cent, which happens in 1936. From then on, the variables are rounded to the nearest cent.


Real Wage Nominal Wage Wage Growth Annual Earning Average Annual Growth Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Lawrence H. Officer 2009

Authors and Affiliations

  • Lawrence H. Officer

There are no affiliations available

Personalised recommendations