World - Legends

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Variable datacards
Page Title
Explanation
- NOTE:Figures are stated both in local currency and euros. The recalculation into euros is done using the Nominal Exchange rate, which is updated continuously from Google Finance. All categories are expressed in monthly figures. All data is as up to date as possible. WageIndicator data were last updated on: 2 / 2 / 2017.
Income groupIncome group classification of countries, based on the definition of the World Bank.
Living wage individual - highest - per monthHighest (upper bound) living wage for an individual, calculated from the 50th percentiles of prices collected for each item. Apart from the difference in price percentiles (25th and 50th), the lowest and highest living wages are calculated by WageIndicator using the same methodology.
Living wage individual - lowest - per monthLiving wage is defined as the income needed for a decent living, i. e. the wage needed to cover only the necessary living costs of an individual or family. Living wage for an individual is calculated by WageIndicator according to its own methodology based on the living cost prices collected in the WageIndicator Cost of Living survey. As the prices collected for various items differ by respondent, the living wage has to be calculated based on price figures reliable enough that a reasonable percentage of respondents reported that the goods are affordable for that price. Therefore, the living wage is provided as an interval of two figures (lower bound and upper bound living wage) instead of a single figure. The lowest (lower bound) living wage is always calculated from the 25th percentiles of prices collected for each item entering the living wage calculation.
Minimum wage - lowest - per monthLowest minimum wage in a certain country. As many countries define by law several different levels of minimum wage, always lowest and highest minimum wage figures must be stated instead of a single figure.
National Poverty Line - per monthNational poverty line for an individual. The national poverty line is defined by each country itself and the definition differs a lot from the poverty line defined by the World Bank


National poverty lines

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World Bank poverty lines

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Living wages

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Living wages and actual wages

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Living wages and minimum wages

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Housing, food and transport costs

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Prices

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General World Map