n-less-40-years-ago
CNSNews.com) - The real median income of American men who work full-time,year-round peaked forty years ago in 1973, according to data published bythe U.S. Census Bureau.
"In 1973, median earnings for men who worked full-time, year-round were$51,670 in inflation-adjusted 2012 dollars. The median earnings of men whowork full-time year-round have never been that high again."
"In 2012, the latest year for which the Census Bureau has published anestimate, the real median earnings of men who worked full-time, year-roundwas $49,398. That was $2,272-or about 4.4 percent-below the peak medianearnings of $51,670 in 1973."
"In 1960, the earliest year for which the Census Bureau has published thisdata, the median earnings for men who worked full-time, year-round were$36,420 in 2012 dollars. Between 1960 and 1973 that increased $15,250-orabout 41.9 percent."
"By comparison, the real median earnings of American women who workfull-time year-round peaked in 2007, when women who worked full-time earned$38,872 in constant 2012 dollars. From 1960 through 2007, the real income ofAmerican women who work full-time increased $16,774 or about 76 percent.From 2007 to 2012, the real earnings of women who work full-time declined$1,081, or about 2.8 percent."
"By "earnings," the Census Bureau means money someone earns as an employee,which "includes wages, salary, armed forces pay, commissions, tips,piece-rate payments, and cash bonuses earned, before deductions are made foritems such as taxes, bonds, pensions, and union dues." It also includes "netincome" from self-employment."
Hmmm...1971 was when the U.S. Dollar was taken off the gold standard....since then it would appear that inflation has eaten up the buying power of people who work for wages. Furthermore, it appears the economy changed during the past 41 years such that the jobs in which men are typically employed don't pay as much as in the past, even when adjusted for inflation.
By Epictetus
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