What does this passage mean?

Peter is ten years old. He loves reading. He studied in a school close to his home. But his family is very poor. He has no money to buy books. One day, he had a great idea. He thought he was going to get a job and then he could make some money. A week later, he got his first job, delivering newspapers door to door. The boss told him: "You will get three dollars an hour, and next year you will get five dollars an hour." "That's great! I'll see you next year!" Peter replied.

After hearing what the boss said, Pete misunderstood and thought that if he saw his boss again next year, he would get five dollars an hour. But what the boss meant was that if he works this year, if he continues to work next year, his salary will increase to five dollars. One hour. This should be a joke. But it can be seen that Pete is a diligent, diligent, innocent and lovely child.

I hope my answer can be helpful to you.