Author Topic: Men who work full time earn less than 40 years ago  (Read 156 times)

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Online rangerrebew

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Men who work full time earn less than 40 years ago
« on: April 29, 2014, 06:32:26 AM »
Men Who Work Full-Time Earn Less Than 40 Years Ago

April 28, 2014 - 12:48 PM
By Terence P. Jeffrey

( - The real median income of American men who work full-time, year-round peaked forty years ago in 1973, according to data published by the 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 who work full-time year-round have never been that high again.

Median Earnings of Men Who Work Full-Time-1

In 2012, the latest year for which the Census Bureau has published an estimate, the real median earnings of men who worked full-time, year-round was $49,398. That was $2,272—or about 4.4 percent—below the peak median earnings of $51,670 in 1973.

In 1960, the earliest year for which the Census Bureau has published this data, 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—or about 41.9 percent.

Median Earnings for Women Who Work Full-Time

By comparison, the real median earnings of American women who work full-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 of American 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 for items such as taxes, bonds, pensions, and union dues.” It also includes “net income” from self-employment.

The business and economic reporting of is funded in part with a gift made in memory of Dr. Keith C. Wold.
« Last Edit: April 29, 2014, 06:34:06 AM by rangerrebew »
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Offline NavyCanDo

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Re: Men who work full time earn less than 40 years ago
« Reply #1 on: April 29, 2014, 02:49:44 PM »
Middle Income 1973 vs. 2014   My parent’s home and mine

1973. My parents house had one 26” TV wired to a TV antenna on top of the house, that only picked up 7 channels.

2014. My house has a home theater with a large HD flat screen, hooked up to Cable with a premium package, plus about 2000 DVDs and BlueRays in our media library.

1973. My parents had about 40 record albums in one of those wire frame record storage racks. Most of those were played so often they hissed or had a skip or two.   When one side was over you got up and flipped it over yourself.

2014. Our House has speakers throughout playing Pandora, or Sirius Satellite Radio. All the music we could ever want in any genre we are in the mood for.

1973.  The parent’s one and only car was a 1968 GMC Suburban, our first car to have the luxury of seatbelts. It had a AM/FM radio that had pre-set push buttons, which was also a first. And the air-conditioning was your window which you had to turn a crank to lower.

2014.   We have 2 cars, both with voice-activated phone and audio systems, built in GPS, heated leather seats, electric windows, and air-conditioning.

I could go on and on about the luxuries we take for granted today. When they say the middle class is far poorer today, I have to ask how?   If in 1973 I could see how I would be living in the future, I would be thinking I struck it rich along the way someplace.
« Last Edit: April 29, 2014, 02:51:20 PM by NavyCanDo »
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Offline raml

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Re: Men who work full time earn less than 40 years ago
« Reply #2 on: April 29, 2014, 06:18:23 PM »
My parents in 1973 had a home paid for and everything including the tv and stereo was paid for the home was only 10 years old and around 2400 sq ft. They had two cars both new and both paid for. No comparison today most people in debt over their heads to have these so called luxuries. Dad also put 4 kids through college we didn't have to work our way through nor did he take a loan out. We had fairly new cars given to us at 16 plus I got an allowance of $25 a wk which went far back then. Today check out normal middle class residents and they are nothing like I grew up in as far as real comfort (money  in savings) most are wondering whether they will make it to the next paycheck.

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