Mapping the Global Migration of Millionaires

The Actual Working Hours of Different Income Levels

Do you really need to work 100-hour weeks for success?

In 2021, America’s top 10% of income earners made at least $129,181 a year—more than double the average individual income across the country.

When looking at differences between income groups, there are many preconceived notions about the work involved. But what are the actual average working hours for different income groups?

This graphic by Ruben Berge Mathisen uses the latest U.S. Census data to show the average working hours of Americans at different income levels.

Comparing Average Work Weeks

The data used for this graphic comes from the U.S. Census Bureau’s May 2022 Current Population Survey, which surveys more than 8,000 Americans from various socioeconomic backgrounds.

Importantly, the data reflects the average work hours that respondents in each income percentile “actually” work each week, and not what’s on their contract. This also includes overtime, other jobs, or side gigs.

According to the survey data, America’s top 10% income percentile works 4.4 hours more each week than those in the bottom 10%. And in surveys across other countries, though with hundreds of respondents instead of thousands, the discrepancy was similar:

While both income and wealth gaps are generally widening globally, it’s interesting to see that higher earners aren’t necessarily working more hours to achieve their increasingly larger salaries.

In fact, the top 10% in the 27 countries shown in the graphic are actually working around 1 hour less each week than the bottom 10%, at least among full-time workers.

Zooming Out: Average Working Hours per Country

Similarities arise when comparing average working hours across different countries. For starters, people living in poorer countries typically work longer hours.

According to Our World in Data, the average worker in Cambodia works about 9.4 hours a day, while in Switzerland, people work an average of 6 hours a day.

While many factors contribute to this discrepancy in working hours, one large factor cited is tech innovation, or things like physical machines, processes, and systems that make work more efficient and productive. This allows wealthier countries (and industries) to increase their output without putting in as many hours.

For example, from 1948 to 2011, farm production per hour in the U.S. became 16x more productive, thanks to innovations like improved machinery, better fertilizers, and more efficient land management systems.

The EU’s Population by 2100

View a higher resolution version of this map.

Many countries and regions are expected to see rapidly aging demographics, and the EU is a notable example. By the end of the century, more than 30% of the region’s population is expected to be 65 or older.

This graphic by Gilbert Fontana uses data from Eurostat to show how the EU’s population is projected to change by 2100. In the article below, we explain how this shift could have a dire impact on the region’s economic growth.

Dependency Ratio from 2021 to 2100

The graphic highlights the old-age dependency ratio, which measures the ratio of people 65 and above, and generally retired or needing supplemental income, compared to the number of people that are working age (15-64).

In 2021, the EU’s dependency ratio was 32. This meant that for every 100 working-age people, there were 32 elderly people. By 2100, this ratio is expected to increase to 57.

But what’s the real-life impact of this?

The Impact of the EU’s Aging Population

Typically, the retirement age population is not working and relies on pensions to support themselves financially. Therefore, the bigger the elderly population, the more pressure put on a country’s social safety net.

As the population ages, taxes may rise to help cover those inflating costs. And a decrease in a region’s working-age population can also have a significant impact on innovation and experience in the overall workforce.

For example, Japan’s population is also aging rapidly. According to the IMF, this could slow down the country’s annual GDP growth by 1 percentage point in the next 30 years.

Main Causes of An Aging Population

Japan and the EU aren’t the only places in the world that are seeing their population get older—the entire global population is aging.

According to the World Health Organization, one in six people worldwide will be 60 years old or older by 2030. This is happening for two main reasons:

• Drop in global fertility rates
• Increased life expectancies

To help mitigate the risks that come from aging populations, governments need to ensure their pension systems are adequate and adjusted to account for increasing life expectancies and growing elderly populations.