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- 1 What was the average weekly salary in 1970?
- 2 What was a good salary in 1977?
- 3 What was the minimum wage in the 1970s?
- 4 What was the minimum wage in 1972?
- 5 What was minimum wage in 1970?
- 6 What was a good salary in 1974?
- 7 What state has the lowest average income?
- 8 What was the median income in 1977 in the US?
What was the average weekly salary in 1970?
Indexing yearly income
| Year | Wage Index |
|---|---|
| 1967 | $5,213.44 |
| 1970 | $6,186.24 |
| 1973 | $7,580.16 |
| 1976 | $9,226.48 |
What was a good salary in 1977?
The median money income of households in the United States rose to $13,570 in 1977, a 7-percent increase from the 1976 median of $12,690. However, almost all of this increase was eroded by rising prices.
What was the average family income in 1971?
$10,290
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 middle class income in 1975?
Highlights. 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 was the minimum wage in the 1970s?
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. Increases for newly subject farm workers stopped at $1.30.
What was the minimum wage in 1972?
1.60
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 |
What was a high 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.
What was the average family income in 1980?
$21,020
The 1980 median family income of $21,020 was 7.3 percent higher than the 1979 median, however, a 13.5-percent increase in consumer prices between 1979 and 1980 caused a net decline of 5.5 percent in real median family income.
What was minimum wage in 1970?
What was a good salary in 1974?
The median money income of households in the United States rose to $11,100 in 1974, an increase of about 6 percent over the 1973 median of $10,500.
What was the average hourly wage in 1970?
How much has the cost of living gone up since 1970?
$1 in 1970 is equivalent in purchasing power to about $7.13 today, an increase of $6.13 over 51 years. The dollar had an average inflation rate of 3.93% per year between 1970 and today, producing a cumulative price increase of 612.86%.
What state has the lowest average income?
Mississippi has the lowest cost of living in the country. But before anyone starts thinking about making a big purchase, know it also has the lowest median income in the nation at just over $45,000 — that results in a gap of more than $6,000. More From Your Money
What was the median income in 1977 in the US?
The median money income of households in the United States rose to $13,570 in 1977, a 7-percent increase from the 1976 median of $12,690. However, almost all of this increase was eroded by rising prices.
What was the average price of gas in 1970?
In the year 1970, the average retail price of gas in the U.S. was $0.36. This is equivalent to $2.35 in 2018 dollars.
What is the average annual income in the US?
The median household income in the US in 2019 was$68,703