New Study Finds That A Minimum-Wage Worker In 1971 Had A Lifestyle Affordability Similar To Someone Making $100K Today ⋆ LOVE IN ACTION NOW

Nice timing – this article showing up after MY POST from last night.

PURCHASING POWER.

It is NOT INFLATION.

That’s the b.s. they push on us.

It. is. PURCHASING POWER.

And that was stolen from us.

What have I been saying all year?

https://theleadingreport.com/article/new-study-finds-that-a-minimum-wage-worker-in-1971-had-a-lifestyle-affordability

A cost-of-living analysis comparing housing, higher education, healthcare, and household expenses suggests that a full-time worker earning the federal minimum wage in 1971 enjoyed a level of affordability comparable to someone earning an estimated $90,000 to $120,000 annually today.

In 1971, the federal minimum wage was $1.60 per hour, allowing a full-time employee working 40 hours per week to earn approximately $3,328 per year.

While that figure appears modest by today’s standards, the purchasing power of those wages relative to life’s biggest expenses was dramatically stronger.

…

According to the U.S. Bureau of Labor Statistics, the $1.60 federal minimum wage in 1971 is equivalent to roughly $14–15 per hour today after adjusting for inflation. Yet housing, higher education, and healthcare have risen substantially faster than general inflation and wage growth, consuming a much larger share of workers’ incomes than they did half a century ago.

The Economy Isn’t the Same One Boomers Entered

This is why many younger Americans reject the idea that success simply comes from “pulling yourself up by your bootstraps.”

To recap last night’s piece:

Housing

1970 Median Home Price: $23,900
1979 Median Home Price: $72,200
Down Payment (approximate): $2,000 to $5,000

🚗 Automobiles

1970 Average New Car: $3,543
Budget New Car (e.g., Ford Maverick): $2,140
Average Used Car: $500 to $1,500

🛒 Monthly Groceries (Family of 4)

Early 1970s Cost: $120 to $160 per month
Late 1970s Cost: $240 to $280 per month
Loaf of Bread: $0.25
Gallon of Milk: $0.62 to $0.89
Dozen Eggs: $0.60
Pound of Ground Beef: $0.70

💡 Monthly Utilities

Total Basic Bill (Power, Gas, Water): $35 to $50 per month
Electricity & Gas: $15 to $20 per month
Landline Phone: $12 to $15 per month
Water: $8 to $10 per month
Gasoline (per gallon): $0.36 in 1970, rising to $0.80+ by 1979

And the salaries (remember back in the 60’s and early 70’s we had gold-backed currency – and until the mid 60’s silver in our coins). Average income – approx. 10K. Average home – $23,000. Imagine today – you’re making $60k – and you can buy a home for $120k. Imagine…..

General Income Metrics

1970 Average Household Income: $9,870 per year
1979 Average Household Income: $19,554 per year
1970 Federal Minimum Wage: $1.60 per hour
1979 Federal Minimum Wage: $2.90 per hour [1, 2, 3, 4]

1970 Individual Median Salaries by Gender

Men (Full-Time, Year-Round): $9,180 per year
Women (Full-Time, Year-Round): $5,440 per year [1]

1970 Average Salaries by Profession

Corporate Managers & Administrators: $11,747 per year
Engineers, Scientists, & Tech Professionals: $11,752 per year
Sales Workers: $9,454 per year
Skilled Craftsmen / Tradespeople: $8,730 per year
Clerks, Secretaries, & Typists: $5,200 to $6,500 per year

Next time someone tells you to work harder, try harder, think differently, be more creative, or pull yourself up by your bootstraps, tell them to take those straps and smack themselves in the face until they SEE. Because creating outside of this matrix – in full – in the way we DESERVE – only happens once the matrix has kaboomed and/or we are outside of it – LITERALLY.

If ever there were a time for a collective JESUS moment, it. is. now.

💥💖

Victoria