This story doing the rounds at the moment about the amount of time it takes to work to buy a Big Mac doesn't add up.
Big Macs in Australia cost about
$A4 and the
minimum wage in Australia is $14 per hour. However, the
Economist claims to have worked this out from an "average net wage across 14 professions".
The average wage in Australia is about
$60,000 per annum, and is higher still in Sydney. Taking out tax (say, $12,000), this works out at about $24 per hour. Even accounting for tax, the
Economist's figures seem unlikely...
Just saying is all.
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