THIRTY
YEARS
OF AMERICAN FAMILY
ECONOMIC DECLINE
U. S. Dept. of Labor
Data
Average Hourly
Earnings1
|
As the graph shows, the average wage rose from $2.40 per hour in 1964 to $15 per hour in 2003. BUT $15 in 2003 had the same spending power as $2.40 did in 1964.—Inflation Calculator
|
Meanwhile,
house prices have risen much faster than spending power. |
So
now mortgage or rent require two incomes per family:
|
Dramatic 76% Percent Rise in Working Families That Spend Over Half
of Their Income on Housing "Average annual work hours for women in married-couple families grew by a dramatic 93 percent between 1969 and 1996."—source In 1976, 'housewives' outnumbered 'housewives with jobs' by 2 to 1. In 2002, 'housewives with jobs' outnumbered 'housewives'.—data The number of wives earning more than their husbands has doubled since 1981.—data |
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Summary The earnings needed to pay rent or mortgage has increased to more than 50% of income, so now mom works too instead of being at home with the children. Conclusion THE AMERICAN FAMILY IS ECONOMICALLY AND PSYCHOLOGICALLY WORSE OFF THAN IT WAS 30 YEARS AGO. |

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And yet mom & dad continue to dramatically increase their work output per hour: |
Labor Productivity2
Addendum1:
U.S. Poverty rates unchanged since 1974.
1. These earnings data are not directly linkable. To source this Bureau of Labor Statistics graph and accompanying data chart, click here. When there, tick the 12th box on list: 'Total Private Average Hourly Earnings of Production - Workers Not Seasonally Adjusted - CEU0500000006', and then click 'Retrieve Data' at bottom of page. When there, adjust for years 1964 -2003, tick 'include graphs', and click 'Go'.
2. Click graph for source. If you don't get there, you'll have to settle for Output Per Hour - Non-farm Business Productivity - PRS85006092
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