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QUESTION: Is the salary/wage data normalized to a 2080-hour year?
The following methodology is used in conjunction with wage data reported in the Assessor Series® applications:
| 1. | If the data we analyze is reported to ERI as an hourly rate, ERI multiplies the hourly rate by 2080 to convert the hourly rate to an annual rate. |
| 2. | If the data we analyze is reported to ERI in terms of weekly rates, ERI multiplies the weekly rate by 52 weeks to convert the weekly rate to an annual rate. |
| 3. | If the data we analyze is reported to ERI in terms of a monthly rate, ERI multiplies the monthly rate by 12 months to convert to an annual rate. |
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Assessor Series FAQ #16