FACTBOX-Hamburger index compares low-income earning power
(This is an updated version of a story that moved on Dec. 14, taking account of latest developments)
Jan 10 (Reuters) - The following table gives a rough estimate of the earning power of low-income workers in 13 countries around the world by calculating the time it would take for an entry-level worker at a McDonald's restaurant to earn enough money to buy a Big Mac hamburger.
Based on an unscientific survey by Reuters reporters, low-income workers in Australia have the highest earning power of the 13 countries, earning enough to buy a Big Mac every 16 minutes.
The lowest earning power is in less-developed countries, where it takes up to 5 hours and 15 minutes to earn the price of a Big Mac.
In the United States, it takes about 30 minutes.
The comparison is an extension of the Big Mac index (here), which is used by "The Economist" newspaper to compare international exchange rates.
Australia 16 mins
Japan 22 mins
Britain 22 mins
France 25 mins
United States 30 mins
Chile 43 mins
Russia 53 mins
Argentina 1 hr 40 mins
Mexico 2 hrs 33 mins
Brazil 2 hrs 56 mins
Indonesia 3 hrs 3 mins
South Africa 4 hrs 52 mins
Egypt 5 hrs 15 mins
Note: Price and wage data was collected by Reuters reporters in each country. Where wage information was not available, standard minimum wage levels for that country were used. (Compiled by Eddie Evans in New York)
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