The aim of forming the Organization for Economic Co-operation and Development in 1961 was to foster economic growth and international trade, and so far, there has been remarkable progress on the member countries. The member nations of OECD are regarded as developed countries because they have high-income economies and high human development indexes. So far, the OECD has 35 member states who contribute to the organization for its upkeep because the organization is non-governmental. Some of the member states include the United Kingdom, United States, Germany, France, China, Austria, Denmark, Canada, Spain, and Turkey among many others. The organization was set to create a platform for market development and achieve economic growth, and to date, some countries are better than others.
OECD Countries With The Highest Salaries
Luxembourg is the top country among the OECD states with the highest income of about 63 million dollars a year. The minimum wage in Luxembourg is among the highest in the world where an adult earns an estimate of 2,000 euros in a week making the country unbeatable by other OECD member states since workers get high incomes. A high skilled worker receives 2,300 euros a week, and the number of unemployed is relatively low in the country making it lead to its high salary rate.
The average salary rate for workers in the United States accounts for $60,000 annually making the country come second among the OECD nations with the highest salaries a year. The average salary for workers, depending on levels of education acquired among other factors, is 800 dollars a week. This value varies in accordance with location and education level acquired, however, wage gaps between men and women as well as white and minority populations are also issues that affect salaries.
The workers of Switzerland make approximately 60,000 dollars on an annual level, which slightly lower than what workers in the US earn annually. Salaries in the country highly dependent on age, level of education, and the region where one works but the average earnings of a laborer in the area goes for 11,000 a year.
Workers in Iceland make approximately 55,000 dollars annually. The pay is dependent on critical factors like age, gender, town or city where one works, level of education, and experience but in general, the salaries rate are high that is high the country is among the top ten countries in the OECD states.
The members of the Organization for Economic and Cooperation Development had an aim of improving the economic and marketing sector of their nations through commitment and supporting each other. The members succeeded and grew their economies while there are those that did not do very well but are still trying. The formation of this non-governmental organization was the best idea, but they could have recruited nations that are still developing to boost them up and grow their economies as well to get a better world economy.
The 10 OECD Countries With The Highest Salaries
|Median Salary (USD PPP)