What was the average hourly wage in 1960?
Value of the minimum wage, 1960–2011
| Minimum wage | ||
|---|---|---|
| Current dollars | 2011 dollars | |
| 1960 | $1.00 | $6.65 |
| 1967 | 1.40 | 8.25 |
| 1973 | 1.60 | 7.24 |
How much did a construction worker make in 1970?
Real average hourly earnings of production and nonsupervisory employees in construction, 1970–2016
| Year | Real average hourly earnings |
|---|---|
| 1970 | $26.17 |
| 1971 | $27.35 |
| 1972 | $28.50 |
| 1973 | $28.45 |
What was the average hourly rate of pay in 1970?
Let’s compare wages on the lowest end of the spectrum. In 1970, the federal minimum wage was $1.60 per hour, which brought in $3,328 per year before taxes. So, minimum wage brought in just under half of the income of the average salaryman of the same era.
What was the average hourly wage in 1950?
Minimum hourly wage of workers in jobs first covered by
| Effective Date | 1938 Act 1 | 1961 Amendments 2 |
|---|---|---|
| Jan 25, 1950 | $0.75 | |
| Mar 1, 1956 | $1.00 | |
| Sep 3, 1961 | $1.15 | $1.00 |
| Sep 3, 1963 | $1.25 |
How much did a mansion cost in 1950?
Here’s how much the median home value in the U.S. has changed between 1940 and 2000: 1940: $2,938. 1950: $7,354. 1960: $11,900.
How much did nurses make in 1950?
Nurses were also required to purchase a cape after six months, which in the 1950s cost anywhere from $21-$30. After graduating, salaries for nurses at the time averaged $140 per month, but some hospitals paid as little as $90 per month.
What would $100 in 1950 be today?
$100 in 1950 is equivalent in purchasing power to about $1,017.10 in 2017, an increase of $917.10 over 67 years. The dollar had an average inflation rate of 3.52% per year between 1950 and 2017, producing a cumulative price increase of 917.10%.
How much is 6000 in 1950 worth now?
Value of $6,000 from 1950 to 2021 $6,000 in 1950 is equivalent in purchasing power to about $67,019.50 today, an increase of $61,019.50 over 71 years. The dollar had an average inflation rate of 3.46% per year between 1950 and today, producing a cumulative price increase of 1,016.99%.
How much was 25 dollars in the 60s?
$25 in 1960 is equivalent in purchasing power to about $227.36 today, an increase of $202.36 over 61 years. The dollar had an average inflation rate of 3.69% per year between 1960 and today, producing a cumulative price increase of 809.44%.
How much did a house cost in 1973?
Cost of Living – 1973 vs. 2008 – Things aren’t that bad!
| Item | Price in 1973 |
|---|---|
| Average home price | $32,500 |
| Average family income per year | $12,900 |
| Average monthly rent | $175 |
| A dozen eggs | 45 cents |
