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> Before we get into the numbers, let’s compare how much families earned in 1960 to what they earn today. > Today’s median family earns considerably more, at $
by cptskippy 4y ago
> Before we get into the numbers, let’s compare how much families earned in 1960 to what they earn today.
> Today’s median family earns considerably more, at $84k per year, or $40.38/hr. ... But when it comes to traditional family outings, the purchasing power of that income has declined.
I'm not sure this is a fair comparison because it doesn't distinguish between single and dual income families.
https://www.pewresearch.org/ft_dual-income-households-1960-2012-2/ https://www.pewresearch.org/ft_dual-income-households-1960-2...
According to Pew Research, only 25% of families in the 1960s were dual income vs 60% today.
Not only have wages not kept up with inflation, but, even with dual incomes, families have less purchasing power. On top of that, they have less free time because the work of maintaining a household didn't go away.