Sometimes, the best bits of data analysis are the simplest ones. Like this gem, uncovered by The Economist yesterday, which shows the average number of minutes you need to work in order to afford a beer.
The data was actually put together by researchers from the bank UBS and divided the retail price by the median hourly wage. The chart shows that the average Australian has to work for about 12 minutes to earn a beer. Compare that to the average of 20 minutes across 150 countries, or India where it’s upwards of 50. In the US, it takes half the amount of work as it does in Australia, averaging just six minutes for beer that’s one-third of the price. [Economist]