January 21, 2007 / 12:05 PM / 12 years ago

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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