My dad was either a child or in the military during the 60s. But I asked him how much he made in the early 70s and he said $4. Which inflation calculator says is $34 today. He didnt even have a degree, I think he was working in a ship yard. I forgot to ask.
What is this study? I’d like to know more. I keep looping back to this one sketchy “article” that doesn’t get me any closer. https://theleadingreport.com/article/new-study-finds-that-a-minimum-wage-worker-in-1971-had-a-lifestyle-affordability
https://en.wikipedia.org/wiki/Leading_Report
The study probably does not exist
Here it is in a nutshell.
US minimum wage in 1960 was $1.00/hour and the cost of the average US home was $11,000.00.
Or you can ask people who were alive at the time.
Don’t forget college. You can compare 1960 or, a1960 baby went off to college in 1978. Scroll down:
https://educationdata.org/average-cost-of-college-by-year
I got downvoted for posting facts and telling people to talk to use first party sources.
Funny and a little scary at the same time.
I’m one of those primary sources, I remember my first year was $1,100. But I wasn’t comfortable giving details like which college and the exact year.
That’s the same reason I don’t mention my SEAL training and my super model grilfriend.
[jk]
Anecdotes from first party sources are often unreliable when you’re talking about something with a grey area like “how it felt”
Why sample size matters, and raw data is very valuable in backing up first party sources.
My dad was either a child or in the military during the 60s. But I asked him how much he made in the early 70s and he said $4. Which inflation calculator says is $34 today. He didnt even have a degree, I think he was working in a ship yard. I forgot to ask.
In 1964 it was $1.25, and quarters were made from silver that’s worth over $10 per coin today.