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

So $15/hr in 2003 is really the same pay as $2.40/hr was in 1964. 

 

Meanwhile, house prices have risen much faster than spending power.
A house costing $30,000 in 1975 cost $130,400 in 2002.—Office of Federal Housing Economic Oversight  House Price Calculator

 

So now home ownership requires two incomes per family:

 

"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

Dramatic 76% Percent Rise in Working Families That Spend Over Half of Their Income on Housing
"In just over half a decade the number of America’s working families paying more than 50 percent of their income for housing has grown 76 percent."

 

Summary

Since 1974, a much greater share of dad's earnings is needed to pay rent or mortgage,
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.

 

And yet mom & dad continue to dramatically increase their work output per hour:

Labor Productivity2

Addendum1: U.S. Poverty rates  unchanged since 1974.

 

Addendum 2: Trend national debt vs national income

 

Addendum 3:

"Fast food and vending machines have become a staple in our society today because most families lack the time to prepare a good meal/snack as well as the time to eat it usnewswire.com, Oct. 17."

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 it, you'll have to settle for Output Per Hour - Non-farm Business Productivity - PRS85006092