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I 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 Ret
by throwaway2037 2y ago
I 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.