Thursday, June 09, 2005

Fun With Statistics

The US Department of Labor has a cute little "Inflation Calculator" which allows entry of a wage (or price) from a historic year; hit the "calculate" button and you have the 2005 inflation-adjusted equivalent. It's available in the upper-left-hand section of this page:

The Wisconsin Association of School Boards publishes a historical table of total-compensation for teachers (unweighted statewide) going back to the 1984/5 school year. Convenient, eh?

So take the 1984/5 total average compensation for teachers in 1984/5 and divide it by 2,080 to come up with an hourly wage. Enter the hourly wage in the calculator, and (presto!) hit 'calculate.'

You don't need me to tell you that Wisconsin teachers have done VERY well during the last 20 years. But I will, anyway: the inflation calculator tells us that the current number should be $51,022.

WEAC has managed to surpass that goal, with the current payout at $67,231. That's 31.7% AHEAD of inflation during the 20-year period.

No comments: