## Difference between hourly wage and real GDP per hour worked?

In 2008 the real GDP per hour worked was $45.70? I don't think this means that the average person was making$45.70...

Here is that graph that contains this data:
http://dl.dropbox.com/u/64325990/ECON%20102/Capture.PNG

Could someone please explain the difference?
 PhysOrg.com social sciences news on PhysOrg.com >> Study: Blacks, Hispanics say Zimmerman arrested earlier if victim White>> New book reveals political impact of 'Harry Potter' series on millennials>> School engagement predicts success later in life
 I did some similar work on this not too long ago using US nominal GDP. In 1950 the labor force included 62,000,000 workers; produced a GDP of $293.7 billion; federal minimum wage was$0.75 per hour, however, the average hourly rate was $2.27 per hour. Much of my analysis was done on minimum wage versus the average wage. New workers will not earn near what experienced workers earned, so there will be discrepancies between the highest and lowest for various reasons. So experience is probably the biggest player between the min and the max.  Quote by theBEAST In 2008 the real GDP per hour worked was$45.70? I don't think this means that the average person was making \$45.70... Here is that graph that contains this data: http://dl.dropbox.com/u/64325990/ECON%20102/Capture.PNG Could someone please explain the difference?
GDP is not as measure of personal income but of the nations weath by its producion and worth of goods and services. While you can break it down into a per capita basis, which would then reflect more a standard of living.

 Similar Threads for: Difference between hourly wage and real GDP per hour worked? Thread Forum Replies General Discussion 7 Electrical Engineering 1 Calculus 9 Calculus & Beyond Homework 3