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Moderate

Wages of Transportation Workers

GMAT-VKVGEP

The table below (with data from the Bureau of Labor Statistics) shows (1) the number of people employed full time in transportation and material moving occupations, in thousands, (2) the median weekly wages of those workers, in dollars, (3) the Consumer Price Index for Urban Consumers (CPI-U), and (4) the percentage change in CPI-U from the preceding year.

In the sortable table below, click on the column title to organize the table by that column's values.

Year Thousands of Wokers Median Weekly Wage CPI-U Percentage change in CPI-U
2004 6604 520 188.9 2.7
2005 6848 543 195.3 3.4
2006 6942 556 201.6 3.2
2007 6900 570 207.3 2.8
2008 6832 593 215.3 3.8
2009 6145 599 214.5 -0.4
2010 6172 599 218.1 1.6
2011 6275 614 224.9 3.2
2012 6415 621 229.6 2.1
2013 6623 619 233.0 1.5
2014 6845 637 236.7 1.6

Decide whether the following statements are true or false about this scenario.

True

False

True

False

The greatest percentage increase in median weekly wages occurred between 2007 and 2008.

True

False

Assume the average weekly wages and median weekly wages are approximately equal. In this case, an estimate of the total wages spent per week on all workers in this field of employment was greater in 2008 than in 2009.

True

False

Using the CPI-U as a measurement of inflation in “the cost of living,” a worker making the median wage in this field, employed continually between 2004 and 2014, would find that his wages offered less purchasing power, relative to the cost of living.