What Was “A Lot of Money” In 1971?
What was the average US salary in 1971?
Median income of the Nation’s families went above $10,000 in 1971 for the first time in U.S. history. The 1971 median family income of $10,290 was about 4 percent higher than the 1970 median of $9,870.
What was the average income in Canada in 1971?
Average Incomes of Families and Unattached Individuals, Canada, 1951-1995
| Year | Average Family Income (constant 1995 $) | Average Income of Unattached Individuals (constant 1995 $) |
|---|---|---|
| 1971 | 43,437 | 18,208 |
| 1972 | 45,200 | 18,288 |
| 1973 | 47,231 | 19,125 |
| 1974 | 49,668 | 20,422 |
What was the average hourly wage in 1971?
The minimum wage went to $1.00 an hour effective February 1967 for newly covered nonfarm workers, $1.15 in February 1968, $1.30 in February 1969, $1.45 in February 1970, and $1.60 in February 1971.
What was a good salary in 1970?
The median money income of families in the United States was $9,870 in 1970, according to estimates recently released by the Bureau of the Census, Department of Commerce. This was about $440, or 4.6 percent higher than the 1969 figure of $9,430.
What was the average salary in 1970?
The median money income of all families in 1970 was about $9,870. This was about $440 or 4.6 percent higher than the 1969 median of $9,430. However, prices rose approximately 5.9 percent in 1970 and in terms of constant dollars, median family income in 1970 was about the same as in 1969.
What was a good salary in 1975?
As indicated in the advance report on income, the 1975 median family income of $13,720 represented an increase of 6 percent over the revised 1974 median.
What did things cost in 1971 Canada?
How much does it cost to live?
| GROCERY LIST | ||
|---|---|---|
| 1971 | 1971 (adj. for inflation) | |
| Cost of a loaf of bread | $0.25 | $1.68 |
| Cost of a pound of butter | $0.69 | $4.67 |
| Cost of a pound of bacon | $0.75 | $5.08 |
How much did a mcdonald’s worker make in 1970?
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.
How much did a loaf of bread cost in 1970?
However, in 1970, you could purchase a loaf of bread for the low price of $0.25.
What was the average wage in 1972?
Indexing yearly income
| Year | Wage Index |
|---|---|
| 1969 | $5,893.76 |
| 1972 | $7,133.80 |
| 1975 | $8,630.92 |
| 1978 | $10,556.03 |
What was middle class income in 1972?
Reflecting the resurgence of the economy, median family money income of the 54.4 million families in the United States climbed to $11,120 in 1972, an increase of 8.1 percent over the 1971 median family income of $10,290.
What was a good salary in 1972?
Adjusted for inflation, average weekly earnings for production and nonsupervisory employees–the bulk of the workforce–topped out in October 1972, according to the Labor Department. In today’s dollar, that weekly paycheck was the equivalent of about $811, compared with just under $703 a week last month.
How much did a nurse make in 1975?
$6.00/hr as a new RN in 1975. Now making $32.00/hr as a charge nurse. My salary increased very slowly over the years and was stagnant for quite a while in the late 80’s and 90’s. Jumped quite a bit in the last 6yrs, but is still considered on the lower end, for my experience level and what I do.
What was a good salary in 1960?
For the country as a whole, the average (median) income of families in 1960 was $5,600; but, for families headed by persons 65 years and over, the average was only $2,900, according to estimates released today by the Bureau of the Census, Department of Commerce.
What was minimum wage in 1972?
The value of the dollar
| Value of the minimum wage | Value of the minimum wage | |
|---|---|---|
| Year | Current dollars | Constant (1996) dollars 1 |
| 1972 | 1.60 | 4.69 |
| 1973 | 1.60 | 4.56 |
| 1974 | 2.00 | 4.49 |