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https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm January 1962 $2 => Nov 2024 $21.03 Using $1.25 in Jan 1
by PaulDavisThe1st 2y ago
https://www.bls.gov/data/inflation_calculator.htm https://www.bls.gov/data/inflation_calculator.htm
January 1962 $2 => Nov 2024 $21.03
Using $1.25 in Jan 1963 gives me $12.97 ...
I used $2 in 1962 because in the 2016 Republican primaries one of the candidates made a reference to their job working in a burger store using these numbers.
- throwaway2037 2y agoI just Googled for "1962 mcdonalds hourly wage". It was much less than $2. Minimum wage was 1.15, and a Federal Reserve study called "Employee Earnings in Retail Food Stores, June 1962" says about 1.70. Also, cumulative inflation from 1962 to today is about 10.5x.
- PaulDavisThe1st 2y agoThere is no single measure of inflation. There are multiple different ones, each with their own pros and cons and suitability for purpose. CPI is a common one, and that would put $1.15 in Jan 1962 at $12.09 in Nov 2024.